Comfort Systems USA (NYSE:FIX) Reaches New 52-Week High – Here’s What Happened

Shares of Comfort Systems USA, Inc. (NYSE:FIX) reached a new 52-week high on Monday . The company traded as high as $1,673.61 and last traded at $1,673.5210, with a volume of 120649 shares trading hands. The stock had previously closed at $1,650.47.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FIX. Zacks Research raised Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. DA Davidson increased their price target on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Comfort Systems USA in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus raised their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $1,643.00.

Comfort Systems USA Price Performance

The firm has a market cap of $59.24 billion, a price-to-earnings ratio of 58.26 and a beta of 1.60. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $1,422.35 and a 200 day moving average of $1,133.52.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings data on Thursday, February 19th. The construction company reported $9.37 EPS for the quarter, topping the consensus estimate of $6.75 by $2.62. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.34 billion. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The firm’s revenue was up 41.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.09 EPS. Equities research analysts predict that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Friday, March 6th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, March 6th. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.60. Comfort Systems USA’s dividend payout ratio (DPR) is 9.69%.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, insider Brian E. Lane sold 9,365 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $1,453.12, for a total transaction of $13,608,468.80. Following the completion of the transaction, the insider owned 171,523 shares in the company, valued at approximately $249,243,501.76. This represents a 5.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Darcy Anderson sold 4,500 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $1,369.74, for a total value of $6,163,830.00. Following the transaction, the director owned 18,035 shares of the company’s stock, valued at approximately $24,703,260.90. This trade represents a 19.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,288 shares of company stock worth $53,677,038 in the last three months. 1.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Comfort Systems USA

A number of large investors have recently added to or reduced their stakes in FIX. Toth Financial Advisory Corp bought a new position in Comfort Systems USA during the 3rd quarter worth about $25,000. Quent Capital LLC bought a new position in Comfort Systems USA during the 3rd quarter worth about $25,000. Ameriflex Group Inc. increased its holdings in Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company’s stock worth $25,000 after purchasing an additional 15 shares in the last quarter. Core Wealth Advisors LLC bought a new position in Comfort Systems USA during the 4th quarter worth about $28,000. Finally, Eastern Bank bought a new position in Comfort Systems USA during the 3rd quarter worth about $31,000. Institutional investors own 96.51% of the company’s stock.

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.