Comfort Systems USA (NYSE:FIX) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Comfort Systems USA (NYSE:FIX) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks reports.

FIX has been the topic of a number of other reports. KeyCorp raised 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 note on Monday, July 27th. Weiss Ratings cut shares of Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 11th. Stifel Nicolaus set a $1,910.00 target price on shares of Comfort Systems USA in a research report on Monday, July 27th. The Goldman Sachs Group began coverage on Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price target on the stock. Finally, DA Davidson started coverage on Comfort Systems USA in a research report on Friday, August 21st. They issued a “buy” rating and a $2,100.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,082.86.

Comfort Systems USA Stock Performance

Shares of NYSE:FIX opened at $1,740.11 on Monday. The stock has a market capitalization of $61.23 billion, a P/E ratio of 42.80 and a beta of 1.66. Comfort Systems USA has a 1-year low of $770.47 and a 1-year high of $2,073.99. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $1,662.46 and a two-hundred day moving average price of $1,721.84.

Comfort Systems USA (NYSE:FIX) last released its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.45 by $2.08. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The company’s revenue was up 50.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.53 EPS. Equities analysts predict that Comfort Systems USA will post 48.15 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 13th. Comfort Systems USA’s dividend payout ratio (DPR) is 8.85%.

Insider Transactions at Comfort Systems USA

In other news, CFO William George, III sold 2,554 shares of the business’s 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 transaction, the chief financial officer owned 30,250 shares of the company’s stock, valued at $56,254,412.50. The trade was a 7.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Lane sold 16,024 shares of the company’s stock in a transaction on 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 sale, the insider owned 145,065 shares of the company’s stock, valued at approximately $233,294,983.65. This represents a 9.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,078 shares of company stock valued at $43,211,828 over the last three months. 1.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIX. Steph & Co. increased its holdings in shares of Comfort Systems USA by 18.6% in the third quarter. Steph & Co. now owns 51 shares of the construction company’s stock worth $84,000 after acquiring an additional 8 shares in the last quarter. Lake Hills Wealth Management LLC raised its position in shares of Comfort Systems USA by 14.0% during the third quarter. Lake Hills Wealth Management LLC now owns 480 shares of the construction company’s stock worth $794,000 after purchasing an additional 59 shares during the period. Glynn Capital Management LLC lifted 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 valued at $31,000 after purchasing an additional 7 shares in the last quarter. CX Institutional lifted its holdings in shares of Comfort Systems USA by 177.4% during the 3rd quarter. CX Institutional now owns 147 shares of the construction company’s stock valued at $243,000 after purchasing an additional 94 shares in the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in shares of Comfort Systems USA by 213,045.5% during the 3rd quarter. GoalVest Advisory LLC now owns 46,892 shares of the construction company’s stock valued at $83,000 after purchasing an additional 46,870 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

About Comfort Systems USA

Comfort Systems USA, Inc (NYSE:FIX) provides mechanical, electrical, and other contracting services for commercial, industrial, and institutional customers. Its work supports the construction, renovation, and ongoing operation of facilities such as office buildings, hospitals, schools, data centers, manufacturing plants, and other complex infrastructure.

The company’s services include heating, ventilation, and air conditioning; plumbing and piping; electrical contracting; building automation and controls; and related specialty services.