Insider Selling: Comfort Systems USA (NYSE:FIX) Director Sells $6,775,680.00 in Stock

Comfort Systems USA, Inc. (NYSE:FIX) Director Franklin Myers sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the sale, the director owned 8,495 shares of the company’s stock, valued at $14,389,850.40. This trade represents a 32.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Franklin Myers also recently made the following trade(s):

• On Monday, August 10th, Franklin Myers sold 3,500 shares of Comfort Systems USA stock. The shares were sold at an average price of $1,690.47, for a total transaction of $5,916,645.00.
• On Wednesday, June 24th, Franklin Myers sold 6,700 shares of Comfort Systems USA stock. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00.

Comfort Systems USA Stock Up 2.7%

Comfort Systems USA stock opened at $1,774.19 on Friday. The firm has a 50 day moving average price of $1,793.06 and a 200-day moving average price of $1,634.99. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. Comfort Systems USA, Inc. has a twelve month low of $655.96 and a twelve month high of $2,073.99. The company has a market capitalization of $62.43 billion, a P/E ratio of 43.63 and a beta of 1.69.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping analysts’ consensus estimates of $10.45 by $2.08. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the firm posted $6.53 EPS. Comfort Systems USA’s revenue was up 50.3% on a year-over-year basis. As a group, equities analysts predict that Comfort Systems USA, Inc. will post 46.77 EPS for the current year.

Comfort Systems USA Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Comfort Systems USA in the second quarter valued at approximately $6,734,037,000. Vanguard Group Inc. grew its stake in Comfort Systems USA by 17.0% during the fourth 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 in the last quarter. Norges Bank bought a new stake in Comfort Systems USA during the 4th quarter worth approximately $469,606,000. State Street Corp increased its holdings in 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 worth $1,333,367,000 after acquiring an additional 375,118 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Comfort Systems USA by 39.0% in the 4th quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock worth $1,103,453,000 after purchasing an additional 332,441 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FIX. Stifel Nicolaus set a $1,910.00 price objective on Comfort Systems USA in a report on Monday, July 27th. Oppenheimer assumed coverage on shares of Comfort Systems USA in a research report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 price target on the stock. Wall Street Zen cut shares of Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Erste Group Bank downgraded shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, UBS Group lifted their price objective on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the company a “buy” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,057.86.

Comfort Systems USA Company Profile

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.