DA Davidson Comments on Comfort Systems USA, Inc.’s Q2 2024 Earnings (NYSE:FIX)

Comfort Systems USA, Inc. (NYSE:FIX) – Analysts at DA Davidson issued their Q2 2024 EPS estimates for Comfort Systems USA in a report released on Monday, April 29th. DA Davidson analyst B. Thielman expects that the construction company will post earnings of $3.04 per share for the quarter. DA Davidson has a “Buy” rating and a $350.00 price objective on the stock. The consensus estimate for Comfort Systems USA’s current full-year earnings is $11.42 per share. DA Davidson also issued estimates for Comfort Systems USA’s FY2024 earnings at $11.90 EPS and FY2025 earnings at $13.50 EPS.

Several other research analysts have also recently commented on FIX. KeyCorp assumed coverage on shares of Comfort Systems USA in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. UBS Group lifted their price objective on shares of Comfort Systems USA from $208.00 to $254.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, StockNews.com upgraded Comfort Systems USA from a “hold” rating to a “buy” rating in a report on Thursday, April 4th.

Comfort Systems USA Trading Up 2.9 %

NYSE:FIX opened at $310.69 on Tuesday. The stock has a fifty day simple moving average of $304.49 and a 200 day simple moving average of $236.37. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 30.76 and a beta of 1.19. Comfort Systems USA has a 1-year low of $144.45 and a 1-year high of $335.25. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.06.

Comfort Systems USA (NYSE:FIX) last issued its earnings results on Thursday, April 25th. The construction company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.43. Comfort Systems USA had a return on equity of 28.65% and a net margin of 6.51%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $1.51 EPS. The company’s quarterly revenue was up 30.8% on a year-over-year basis.

Hedge Funds Weigh In On Comfort Systems USA

Several large investors have recently made changes to their positions in the business. Caprock Group LLC bought a new position in shares of Comfort Systems USA during the 1st quarter worth about $204,000. Perigon Wealth Management LLC acquired a new stake in Comfort Systems USA during the first quarter worth $207,000. Mayflower Financial Advisors LLC bought a new stake in Comfort Systems USA in the 1st quarter valued at $249,000. Benjamin Edwards Inc. raised its stake in shares of Comfort Systems USA by 35.8% in the 1st quarter. Benjamin Edwards Inc. now owns 2,327 shares of the construction company’s stock valued at $739,000 after buying an additional 614 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Comfort Systems USA by 954.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,255 shares of the construction company’s stock worth $399,000 after acquiring an additional 1,136 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

Insider Buying and Selling at Comfort Systems USA

In other Comfort Systems USA news, insider Brian E. Lane sold 16,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $312.13, for a total value of $4,994,080.00. Following the transaction, the insider now owns 227,926 shares in the company, valued at $71,142,542.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Comfort Systems USA news, insider Brian E. Lane sold 16,000 shares of Comfort Systems USA stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $312.13, for a total value of $4,994,080.00. Following the completion of the sale, the insider now directly owns 227,926 shares in the company, valued at $71,142,542.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William George III sold 8,429 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $278.95, for a total transaction of $2,351,269.55. Following the transaction, the chief financial officer now owns 62,471 shares in the company, valued at approximately $17,426,285.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,614 shares of company stock worth $13,739,345. 1.80% of the stock is currently owned by company insiders.

Comfort Systems USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, May 10th. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 0.39%. Comfort Systems USA’s payout ratio is presently 9.90%.

About Comfort Systems USA

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.