Zacks Research downgraded shares of Comfort Systems USA (NYSE:FIX – Free Report) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks reports.
Several other research analysts have also issued reports on the stock. UBS Group reaffirmed a “buy” rating on shares of Comfort Systems USA in a research note on Tuesday, September 15th. Erste Group Bank downgraded shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group initiated coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price objective on the stock. KeyCorp lifted their target price on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Stifel Nicolaus set a $1,910.00 target price on shares of Comfort Systems USA in a research report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Comfort Systems USA presently has an average rating of “Moderate Buy” and an average price target of $2,082.86.
Get Our Latest Stock Report on Comfort Systems USA
Comfort Systems USA Stock Performance
Comfort Systems USA (NYSE:FIX – Get Free Report) last released its earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating the consensus estimate of $10.45 by $2.08. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period last year, the firm earned $6.53 EPS. Analysts forecast that Comfort Systems USA will post 48.15 EPS 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 Activity at Comfort Systems USA
In other Comfort Systems USA news, insider Brian E. Lane sold 16,024 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the completion of the sale, the insider directly owned 145,065 shares in the company, valued at $233,294,983.65. This represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George, III sold 2,554 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the sale, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,078 shares of company stock worth $43,211,828 in the last quarter. Corporate insiders own 1.24% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Comfort Systems USA in the 2nd quarter valued at approximately $6,734,037,000. Deutsche Bank AG bought a new position in shares of Comfort Systems USA during the 2nd quarter worth approximately $443,751,000. Legal & General Group Plc acquired a new stake in shares of Comfort Systems USA in the second quarter valued at approximately $400,096,000. Bank of New York Mellon Corp acquired a new stake in shares of Comfort Systems USA in the second quarter valued at approximately $370,479,000. Finally, Amundi lifted its position in shares of Comfort Systems USA by 114.1% in the second quarter. Amundi now owns 292,904 shares of the construction company’s stock worth $580,521,000 after purchasing an additional 156,069 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.
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.
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