Comfort Systems USA, Inc. (NYSE:FIX) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish view: Comfort Systems USA has a consensus “Buy” rating from 11 analysts, with an average 12-month price target of approximately $2,083.
• Quarterly results exceeded expectations: The company reported $12.53 in EPS versus the $10.45 consensus estimate, while revenue rose 50.3% year over year to $3.27 billion.
• Dividend increased, while insiders sold shares: Comfort Systems raised its quarterly dividend to $0.90 per share, but insiders sold roughly $56.3 million of stock over the past 90 days.

Shares of Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) have earned a consensus recommendation of "Buy" from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2,082.8571.

A number of research firms have weighed in on FIX. Stifel Nicolaus set a $1,910.00 price target on Comfort Systems USA in a research note on Monday, July 27th. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Erste Group Bank lowered shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. UBS Group set a $2,100.00 price target on shares of Comfort Systems USA in a research note on Thursday, August 20th. Finally, KeyCorp lifted their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the company an "overweight" rating in a research report on Monday, July 27th.

Comfort Systems USA Trading Down 2.0%

Comfort Systems USA stock opened at $1,616.31 on Thursday. The firm has a 50-day moving average of $1,690.07 and a 200-day moving average of $1,686.99. Comfort Systems USA has a one year low of $721.87 and a one year high of $2,073.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. The company has a market cap of $56.88 billion, a price-to-earnings ratio of 39.75 and a beta of 1.67.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The company had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the company earned $6.53 EPS. Comfort Systems USA's revenue for the quarter was up 50.3% compared to the same quarter last year. On average, equities analysts expect that Comfort Systems USA will post 47.2 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Thursday, August 13th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, August 13th. This is an increase from Comfort Systems USA's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 0.2%. Comfort Systems USA's dividend payout ratio is 8.85%.

Insiders Place Their Bets

In other news, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the transaction, the director directly owned 62,115 shares in the company, valued at approximately $121,401,904.05. The trade was a 9.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William George, III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares in the company, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,778 shares of company stock valued at $56,306,777 over the last 90 days. 1.24% of the stock is currently owned by insiders.

Institutional Trading of Comfort Systems USA

A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in Comfort Systems USA by 189,725.5% in the 2nd quarter. California State Teachers Retirement System now owns 103,029,689 shares of the construction company's stock valued at $204,199,692,000 after acquiring an additional 102,975,413 shares during the period. BlackRock Inc. acquired a new position in shares of Comfort Systems USA in the second quarter valued at approximately $6,734,037,000. State Street Corp grew its position in shares of Comfort Systems USA by 35.6% in the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company's stock valued at $1,333,367,000 after purchasing an additional 375,118 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Comfort Systems USA by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company's stock worth $1,103,453,000 after purchasing an additional 332,441 shares during the period. Finally, Invesco Ltd. lifted its holdings in Comfort Systems USA by 7.4% during the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company's stock worth $878,454,000 after purchasing an additional 73,727 shares during the last quarter. Institutional investors and hedge funds own 96.51% of the company's stock.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc is a provider of commercial, industrial and institutional heating, ventilation, air conditioning and electrical contracting services. The company designs, installs, maintains and repairs mechanical systems used in buildings and industrial facilities, including heating and cooling equipment, plumbing, piping, controls and related building infrastructure.

The company serves customers through a network of operating subsidiaries across the United States. Its projects and services support a range of facilities, including office buildings, healthcare and educational institutions, manufacturing sites, technology and data center facilities, and other commercial and industrial properties.

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