Comfort Systems USA (NYSE:FIX) Posts Quarterly Earnings Results, Beats Expectations By $3.70 EPS

Comfort Systems USA (NYSE:FIX) issued its quarterly earnings results on Thursday. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.81 by $3.70, FiscalAI reports. Comfort Systems USA had a return on equity of 48.52% and a net margin of 11.23%.The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.39 billion.

Comfort Systems USA Price Performance

Shares of Comfort Systems USA stock traded up $51.40 during trading on Thursday, reaching $1,775.89. 600,658 shares of the company’s stock were exchanged, compared to its average volume of 424,350. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.19 and a current ratio of 1.21. Comfort Systems USA has a 1-year low of $355.00 and a 1-year high of $1,798.96. The company has a market cap of $62.48 billion, a P/E ratio of 61.45 and a beta of 1.60. The firm’s 50-day moving average price is $1,446.28 and its 200 day moving average price is $1,149.61.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Friday, March 6th were issued a dividend of $0.70 per share. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.2%. Comfort Systems USA’s payout ratio is presently 9.69%.

Insider Transactions at Comfort Systems USA

In other news, insider Brian E. Lane sold 9,365 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $1,453.12, for a total value of $13,608,468.80. Following the sale, the insider directly owned 171,523 shares in the company, valued at approximately $249,243,501.76. This trade represents a 5.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Sandbrook sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $1,443.32, for a total transaction of $3,608,300.00. Following the completion of the sale, the director owned 9,166 shares in the company, valued at approximately $13,229,471.12. The trade was a 21.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 37,288 shares of company stock valued at $53,677,038. Company insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On Comfort Systems USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock worth $1,333,367,000 after buying an additional 375,118 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Comfort Systems USA by 22.1% during the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company’s stock valued at $951,883,000 after acquiring an additional 184,362 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Comfort Systems USA by 1,189.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 148,312 shares of the construction company’s stock valued at $79,525,000 after acquiring an additional 136,807 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Comfort Systems USA by 116.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 216,715 shares of the construction company’s stock worth $178,829,000 after acquiring an additional 116,578 shares during the last quarter. Finally, Amundi increased its holdings in Comfort Systems USA by 1,293.9% in the 4th quarter. Amundi now owns 112,626 shares of the construction company’s stock worth $105,113,000 after purchasing an additional 104,546 shares in the last quarter. Institutional investors own 96.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FIX. Stifel Nicolaus lifted their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 3rd. Zacks Research raised Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Comfort Systems USA in a research report on Monday. Finally, Glj Research started coverage on shares of Comfort Systems USA in a research note on Monday. They set a “buy” rating and a $2,001.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Comfort Systems USA currently has an average rating of “Buy” and an average target price of $1,732.50.

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.