Comfort Systems USA, Inc. (NYSE:FIX) Shareholders to Receive $0.10 Quarterly Dividend

Key Points

• Comfort Systems USA declared a quarterly dividend of $0.10 per share, payable November 23 to shareholders of record November 12. This represents an 88.9% decrease from the prior $0.90 quarterly dividend.
• The company reported strong quarterly results, with EPS of $13.91 beating estimates of $12.85 and revenue of $3.77 billion exceeding expectations. Revenue rose 53.7% year over year.
• Shares opened at $1,273.29, down 9.1%, while insiders sold 26,078 shares worth approximately $43.2 million over the past 90 days.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Thursday, November 12th will be given a dividend of $0.10 per share by the construction company on Monday, November 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, November 12th. This is a 88.9% decrease from Comfort Systems USA's previous quarterly dividend of $0.90.

Comfort Systems USA has increased its dividend by an average of 0.4% per year over the last three years and has raised its dividend every year for the last 13 years. Comfort Systems USA has a dividend payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Comfort Systems USA to earn $59.29 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 6.1%.

Comfort Systems USA Stock Down 9.1%

Shares of Comfort Systems USA stock opened at $1,273.29 on Friday. The business has a fifty day simple moving average of $1,616.95 and a 200 day simple moving average of $1,731.34. The stock has a market cap of $44.81 billion, a PE ratio of 31.32 and a beta of 1.66. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. Comfort Systems USA has a 12 month low of $791.36 and a 12 month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its earnings results on Thursday, October 22nd. The construction company reported $13.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.85 by $1.06. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.40 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%. The company's revenue was up 53.7% compared to the same quarter last year. During the same quarter last year, the business earned $8.25 earnings per share. Research analysts predict that Comfort Systems USA will post 48.80 EPS for the current year.

Insiders Place Their Bets

In other news, CFO William George, III sold 2,554 shares of Comfort Systems USA stock in a transaction dated 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 transaction, the chief financial officer owned 30,250 shares of the company's stock, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian E. Lane sold 16,024 shares of Comfort Systems USA stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the completion of the transaction, the insider directly owned 145,065 shares of the company's stock, valued at approximately $233,294,983.65. This trade represents a 9.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,078 shares of company stock valued at $43,211,828 in the last 90 days. 1.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comfort Systems USA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp bought a new stake in Comfort Systems USA in the second quarter valued at approximately $26,000. Glynn Capital Management LLC increased its holdings in shares of Comfort Systems USA by 58.3% during the 3rd quarter. Glynn Capital Management LLC now owns 19 shares of the construction company's stock worth $31,000 after acquiring an additional 7 shares during the last quarter. Avalon Trust Co acquired a new position in shares of Comfort Systems USA during the 2nd quarter worth approximately $32,000. Field & Main Bank bought a new stake in Comfort Systems USA in the 2nd quarter valued at $32,000. Finally, Nvwm LLC bought a new stake in Comfort Systems USA in the 3rd quarter valued at $35,000. Institutional investors own 96.51% of the company's stock.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc NYSE: FIX is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.

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