Comfort Systems USA (NYSE:FIX) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Comfort Systems USA (NYSE:FIX) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other analysts have also commented on FIX. Stifel Nicolaus assumed coverage on Comfort Systems USA in a report on Friday, November 15th. They set a “buy” rating and a $524.00 price objective for the company. Northcoast Research initiated coverage on Comfort Systems USA in a research report on Friday, November 22nd. They set a “buy” rating and a $525.00 target price on the stock. Finally, UBS Group increased their price target on Comfort Systems USA from $525.00 to $575.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Comfort Systems USA currently has a consensus rating of “Moderate Buy” and an average price target of $493.50.

Comfort Systems USA Price Performance

Shares of NYSE:FIX opened at $450.18 on Thursday. Comfort Systems USA has a twelve month low of $194.30 and a twelve month high of $510.79. The stock’s 50 day moving average is $456.36 and its 200-day moving average is $385.11. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of 34.44 and a beta of 1.23.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $4.09 earnings per share for the quarter, topping the consensus estimate of $3.97 by $0.12. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. Comfort Systems USA had a net margin of 7.18% and a return on equity of 32.74%. The business’s revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.74 earnings per share. Sell-side analysts forecast that Comfort Systems USA will post 13.95 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Thursday, November 14th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 0.31%. Comfort Systems USA’s dividend payout ratio is currently 10.71%.

Insider Activity at Comfort Systems USA

In related news, insider Brian E. Lane sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $448.88, for a total transaction of $6,733,200.00. Following the completion of the sale, the insider now owns 204,205 shares in the company, valued at approximately $91,663,540.40. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO T Mckenna Trent sold 4,000 shares of Comfort Systems USA stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $484.81, for a total transaction of $1,939,240.00. Following the completion of the sale, the chief operating officer now directly owns 23,990 shares in the company, valued at approximately $11,630,591.90. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,200 shares of company stock valued at $15,431,250. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Comfort Systems USA during the 3rd quarter valued at $138,987,000. Millennium Management LLC boosted its position in Comfort Systems USA by 477.9% during the second quarter. Millennium Management LLC now owns 342,724 shares of the construction company’s stock worth $104,229,000 after purchasing an additional 283,416 shares during the period. Jennison Associates LLC increased its stake in shares of Comfort Systems USA by 6,071.6% in the third quarter. Jennison Associates LLC now owns 176,570 shares of the construction company’s stock worth $68,924,000 after purchasing an additional 173,709 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Comfort Systems USA by 871.4% in the third quarter. Natixis Advisors LLC now owns 132,693 shares of the construction company’s stock valued at $51,797,000 after purchasing an additional 119,033 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Comfort Systems USA during the 2nd quarter valued at approximately $29,743,000. 96.51% of the stock is owned by institutional investors.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.