Comfort Systems USA (NYSE:FIX) Shares Down 5.9% Following Insider Selling

Comfort Systems USA, Inc. (NYSE:FIX) shares dropped 5.9% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $479.09 and last traded at $471.98. Approximately 81,296 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 435,750 shares. The stock had previously closed at $501.33.

Specifically, Director Darcy Anderson sold 8,000 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $506.82, for a total value of $4,054,560.00. Following the completion of the sale, the director now directly owns 26,535 shares of the company’s stock, valued at $13,448,468.70. The trade was a 23.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

FIX has been the subject of several research analyst reports. Wall Street Zen raised shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Saturday. DA Davidson raised their target price on shares of Comfort Systems USA from $440.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Stifel Nicolaus upped their price target on Comfort Systems USA from $471.00 to $512.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Finally, Sidoti upgraded Comfort Systems USA from a “neutral” rating to a “buy” rating and set a $552.00 target price on the stock in a research note on Monday, February 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $525.80.

Comfort Systems USA Stock Performance

The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $415.11 and its 200 day simple moving average is $419.07. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 32.38 and a beta of 1.51.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings data on Thursday, April 24th. The construction company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $1.09. Comfort Systems USA had a return on equity of 35.28% and a net margin of 7.43%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $2.69 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, analysts anticipate that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 16th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.38%. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 16th. Comfort Systems USA’s dividend payout ratio is presently 10.80%.

Hedge Funds Weigh In On Comfort Systems USA

Several hedge funds have recently added to or reduced their stakes in FIX. Tradewinds Capital Management LLC grew its stake in Comfort Systems USA by 49.1% during the 1st quarter. Tradewinds Capital Management LLC now owns 82 shares of the construction company’s stock worth $26,000 after buying an additional 27 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Comfort Systems USA in the 1st quarter valued at $31,000. Versant Capital Management Inc increased its stake in Comfort Systems USA by 257.1% in the first quarter. Versant Capital Management Inc now owns 100 shares of the construction company’s stock valued at $32,000 after purchasing an additional 72 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Comfort Systems USA by 1,925.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 81 shares of the construction company’s stock valued at $34,000 after buying an additional 77 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Comfort Systems USA by 54.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 105 shares of the construction company’s stock valued at $34,000 after buying an additional 37 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.