Comfort Systems USA (NYSE:FIX) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Comfort Systems USA (NYSE:FIX) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Stifel Nicolaus raised their price target on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. KeyCorp upgraded Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price target on the stock in a research note on Friday, April 24th. UBS Group raised their price target on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $1,923.20.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,886.97 on Monday. Comfort Systems USA has a fifty-two week low of $465.05 and a fifty-two week high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The firm has a market capitalization of $66.42 billion, a P/E ratio of 54.44 and a beta of 1.70. The stock has a 50-day simple moving average of $1,666.57 and a two-hundred day simple moving average of $1,306.05.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the business earned $4.75 EPS. Comfort Systems USA’s revenue for the quarter was up 56.5% compared to the same quarter last year. On average, equities analysts forecast that Comfort Systems USA will post 43.17 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. Comfort Systems USA’s dividend payout ratio is 9.23%.

Insider Activity at Comfort Systems USA

In related news, insider Brian E. Lane sold 11,113 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the transaction, the insider owned 161,089 shares of the company’s stock, valued at $317,319,555.76. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Franklin Myers sold 4,500 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $1,902.57, for a total value of $8,561,565.00. Following the transaction, the director directly owned 68,983 shares in the company, valued at approximately $131,244,986.31. This represents a 6.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,352 shares of company stock valued at $53,724,598. Corporate insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Comfort Systems USA

A number of hedge funds and other institutional investors have recently modified their holdings of FIX. Vanguard Group Inc. lifted its position in shares of Comfort Systems USA by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock valued at $4,022,597,000 after acquiring an additional 625,567 shares during the period. Norges Bank acquired a new stake in shares of Comfort Systems USA during the 4th quarter valued at approximately $469,606,000. State Street Corp lifted its position in shares of Comfort Systems USA by 35.6% during the 4th quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock valued at $1,333,367,000 after acquiring an additional 375,118 shares during the period. Geode Capital Management LLC lifted its position in shares of Comfort Systems USA by 39.0% during the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock valued at $1,103,453,000 after acquiring an additional 332,441 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Comfort Systems USA by 37,987.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company’s stock valued at $289,349,000 after acquiring an additional 309,217 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

About Comfort Systems USA

Comfort Systems USA, Inc is a U.S.-based mechanical contracting company that provides a range of heating, ventilation and air conditioning (HVAC) services to commercial, industrial and institutional customers. The company focuses on the design, installation, maintenance and repair of HVAC systems, and it supports projects from initial engineering and system selection through long-term service agreements and upgrades.

Its service offerings include new construction and retrofit installations, preventive and corrective maintenance, emergency repair, energy management and building automation systems.