Comfort Systems USA (NYSE:FIX) Shares Gap Down – Here’s What Happened

Comfort Systems USA, Inc. (NYSE:FIX) gapped down before the market opened on Wednesday. The stock had previously closed at $1,285.13, but opened at $1,115.00. Comfort Systems USA shares last traded at $1,113.5440, with a volume of 279,873 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on FIX shares. Zacks Research raised shares of Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group set a $1,875.00 price target on shares of Comfort Systems USA in a report on Tuesday, October 20th. UBS Group lowered their price objective on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating for the company in a research report on Monday, October 26th. KeyCorp lowered their price objective on shares of Comfort Systems USA from $2,125.00 to $1,979.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Finally, Weiss Ratings downgraded shares of Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $1,916.14.

Comfort Systems USA Stock Performance

The company has a market cap of $36.54 billion, a price-to-earnings ratio of 22.69 and a beta of 1.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.15. The company has a fifty day moving average of $1,522.86 and a two-hundred day moving average of $1,598.10.

Comfort Systems USA (NYSE:FIX) 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 business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The business’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.25 EPS. Equities research analysts anticipate that Comfort Systems USA, Inc. will post 50.32 EPS for the current year.

Comfort Systems USA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.0%. This is a decrease from Comfort Systems USA’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, November 12th. Comfort Systems USA’s dividend payout ratio (DPR) is presently 7.77%.

Insider Activity

In related news, CFO William George, III sold 2,554 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Lane sold 16,024 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the sale, the insider owned 145,065 shares in the company, valued at approximately $233,294,983.65. This represents a 9.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,078 shares of company stock valued at $43,211,828 over the last quarter. 1.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comfort Systems USA

Large investors have recently modified their holdings of the business. Signature Equity Partners LLC grew its position in Comfort Systems USA by 16.7% during the first quarter. Signature Equity Partners LLC now owns 35 shares of the construction company’s stock worth $48,000 after buying an additional 5 shares in the last quarter. Capital Advisors Inc. OK raised its position in shares of Comfort Systems USA by 1.9% during the 2nd quarter. Capital Advisors Inc. OK now owns 321 shares of the construction company’s stock valued at $636,000 after buying an additional 6 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Comfort Systems USA by 3.4% during the 3rd quarter. Versant Capital Management Inc now owns 183 shares of the construction company’s stock valued at $303,000 after buying an additional 6 shares in the last quarter. LifeGoal Investments LLC raised its position in shares of Comfort Systems USA by 1.9% during the 3rd quarter. LifeGoal Investments LLC now owns 314 shares of the construction company’s stock valued at $519,000 after buying an additional 6 shares in the last quarter. Finally, Petra Financial Advisors Inc. lifted its holdings in shares of Comfort Systems USA by 0.7% during the 1st quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company’s stock worth $1,489,000 after acquiring an additional 7 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

About Comfort Systems USA

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.