Comfort Systems USA (NYSE:FIX) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Comfort Systems USA (NYSE:FIX) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks reports.

FIX has been the topic of several other reports. The Goldman Sachs Group set a $1,875.00 target price on shares of Comfort Systems USA in a report on Tuesday, October 20th. KeyCorp dropped their price target on shares of Comfort Systems USA from $2,125.00 to $1,979.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. Weiss Ratings downgraded shares of Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. UBS Group cut their price target on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating for the company in a report on Monday, October 26th. Finally, Erste Group Bank cut Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $1,916.14.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,085.71 on Tuesday. The company has a market cap of $37.99 billion, a P/E ratio of 23.44 and a beta of 1.64. Comfort Systems USA has a twelve month low of $841.66 and a twelve month high of $2,073.99. The company’s 50-day moving average price is $1,536.01 and its 200-day moving average price is $1,598.89. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.85 by $1.06. Comfort Systems USA had a net margin of 13.01% and a return on equity of 55.24%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the company earned $8.25 EPS. Comfort Systems USA’s revenue was up 53.7% compared to the same quarter last year. On average, sell-side analysts forecast that Comfort Systems USA will post 50.32 earnings per share for the current fiscal year.

Comfort Systems USA Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be issued a $0.10 dividend. The ex-dividend date is Thursday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.0%. This is a drop from Comfort Systems USA’s previous quarterly dividend of $0.90. Comfort Systems USA’s dividend payout ratio (DPR) is presently 7.77%.

Insider Buying and Selling at Comfort Systems USA

In other news, CFO William George, III sold 2,554 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Franklin Myers sold 4,000 shares of the firm’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 directly owned 8,495 shares of the company’s stock, valued at approximately $14,389,850.40. The trade was a 32.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,078 shares of company stock valued at $43,211,828 in the last three months. 1.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comfort Systems USA

Several large investors have recently added to or reduced their stakes in FIX. BlackRock Inc. acquired a new stake in Comfort Systems USA in the 2nd quarter valued at about $6,734,037,000. Amundi boosted its stake in shares of Comfort Systems USA by 114.1% in the 2nd quarter. Amundi now owns 292,904 shares of the construction company’s stock valued at $580,521,000 after buying an additional 156,069 shares during the period. Value Aligned Research Advisors LLC boosted its stake in shares of Comfort Systems USA by 14.0% in the 2nd quarter. Value Aligned Research Advisors LLC now owns 243,607 shares of the construction company’s stock valued at $482,817,000 after buying an additional 29,970 shares during the period. Deutsche Bank AG acquired a new position in shares of Comfort Systems USA during the second quarter worth about $443,751,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Comfort Systems USA by 38.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,945 shares of the construction company’s stock worth $400,245,000 after buying an additional 55,938 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Comfort Systems USA

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.