Comfort Systems USA (NYSE:FIX) Shares Gap Up – Time to Buy?

Comfort Systems USA, Inc. (NYSE:FIX)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $1,288.61, but opened at $1,335.00. Comfort Systems USA shares last traded at $1,311.0690, with a volume of 135,541 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Oppenheimer decreased their target price on Comfort Systems USA from $2,400.00 to $2,000.00 and set an “outperform” rating for the company in a research report on Monday. The Goldman Sachs Group set a $1,875.00 price target on shares of Comfort Systems USA in a research report on Tuesday, October 20th. DA Davidson set a $1,850.00 price target on shares of Comfort Systems USA in a research report on Monday. Weiss Ratings lowered shares of Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, Stifel Nicolaus set a $1,808.00 price objective on shares of Comfort Systems USA in a report on Monday. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,916.14.

Comfort Systems USA Trading Down 1.7%

The company has a fifty day simple moving average of $1,570.19 and a two-hundred day simple moving average of $1,596.19. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $46.27 billion, a P/E ratio of 28.55 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings results on Thursday, October 22nd. The construction company reported $13.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.85 by $1.06. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period in the prior year, the company earned $8.25 earnings per share. On average, sell-side analysts expect that Comfort Systems USA, Inc. will post 50.63 earnings per share for the current year.

Comfort Systems USA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 12th. This is a negative change from Comfort Systems USA’s previous quarterly dividend of $0.90. Comfort Systems USA’s dividend payout ratio (DPR) is currently 7.77%.

Insider Buying and Selling

In other news, insider Brian E. Lane sold 16,024 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the completion of the transaction, the insider owned 145,065 shares in the company, valued at $233,294,983.65. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Franklin Myers sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 26,078 shares of company stock valued at $43,211,828. 1.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comfort Systems USA

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Comfort Systems USA during the 2nd quarter worth $6,734,037,000. Deutsche Bank AG acquired a new stake in shares of Comfort Systems USA during the second quarter worth $443,751,000. Legal & General Group Plc acquired a new stake in shares of Comfort Systems USA during the second quarter worth $400,096,000. Bank of New York Mellon Corp acquired a new stake in shares of Comfort Systems USA during the second quarter worth $370,479,000. Finally, Amundi boosted its position in shares of Comfort Systems USA by 114.1% in the second quarter. Amundi now owns 292,904 shares of the construction company’s stock valued at $580,521,000 after acquiring an additional 156,069 shares during the period. 96.51% of the stock is owned by institutional investors.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc (NYSE:FIX) is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.