Comfort Systems USA (NYSE:FIX) Shares Gap Up – Here’s What Happened

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

A number of research firms have recently commented on FIX. DA Davidson set a $1,850.00 price target on Comfort Systems USA in a research report on Monday. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. KeyCorp decreased their price objective on Comfort Systems USA from $2,125.00 to $1,979.00 and set an “overweight” rating for the company in a report on Monday. Finally, The Goldman Sachs Group set a $1,875.00 target price on Comfort Systems USA in a research report on Tuesday, October 20th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,916.14.

Comfort Systems USA Stock Performance

The company has a market capitalization of $46.80 billion, a P/E ratio of 28.95 and a beta of 1.66. The stock’s fifty day moving average price is $1,585.43 and its 200-day moving average price is $1,592.76.

Comfort Systems USA (NYSE:FIX) last issued its earnings results on Thursday, October 22nd. The construction company reported $13.91 EPS for the quarter, topping the consensus estimate of $12.85 by $1.06. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm posted $8.25 earnings per share. The business’s revenue was up 53.7% compared to the same quarter last year. On average, research analysts predict that Comfort Systems USA, Inc. will post 49.21 EPS for the current fiscal year.

Comfort Systems USA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 12th. This is a decrease from Comfort Systems USA’s previous quarterly dividend of $0.90. Comfort Systems USA’s payout ratio is 8.64%.

Insider Transactions at Comfort Systems USA

In related news, insider Brian Lane sold 16,024 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the transaction, the insider directly owned 145,065 shares of the company’s stock, valued at approximately $233,294,983.65. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George, III sold 2,554 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the transaction, the chief financial officer owned 30,250 shares in the company, valued at approximately $56,254,412.50. The trade was a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 26,078 shares of company stock valued at $43,211,828. 1.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BOKF NA acquired a new stake in shares of Comfort Systems USA in the 3rd quarter valued at approximately $495,000. Motley Fool Asset Management LLC raised its position in Comfort Systems USA by 15.3% in the third quarter. Motley Fool Asset Management LLC now owns 3,306 shares of the construction company’s stock valued at $5,468,000 after purchasing an additional 438 shares during the last quarter. North Dakota State Investment Board raised its position in Comfort Systems USA by 20.1% in the third quarter. North Dakota State Investment Board now owns 1,243 shares of the construction company’s stock valued at $2,056,000 after purchasing an additional 208 shares during the last quarter. Latitude Advisors LLC acquired a new stake in shares of Comfort Systems USA during the third quarter valued at about $108,000. Finally, Balance Wealth Partners LLC acquired a new stake in shares of Comfort Systems USA during the third quarter valued at about $83,000. 96.51% of the stock is currently 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.