Comfort Systems USA (NYSE:FIX) Issues Earnings Results

Comfort Systems USA (NYSE:FIX) posted its earnings results on Thursday. The construction company reported $12.53 earnings per share for the quarter, topping the consensus estimate of $10.45 by $2.08, FiscalAI reports. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion.

Comfort Systems USA Price Performance

Shares of FIX stock traded up $39.02 on Thursday, reaching $1,830.08. The company’s stock had a trading volume of 722,711 shares, compared to its average volume of 450,320. The company has a market capitalization of $64.42 billion, a P/E ratio of 52.80 and a beta of 1.66. Comfort Systems USA has a 12-month low of $543.24 and a 12-month high of $2,073.99. The stock’s 50 day simple moving average is $1,845.31 and its 200-day simple moving average is $1,561.72. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

Several research firms recently commented on FIX. Oppenheimer started coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 price objective for the company. KeyCorp raised Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price target for the company in a report on Friday, April 24th. Wall Street Zen lowered Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Friday, July 17th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,015.43.

Insider Transactions at Comfort Systems USA

In related news, insider Brian E. Lane sold 11,113 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the transaction, the insider directly owned 161,089 shares in the company, valued at approximately $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Julie Shaeff sold 1,123 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the transaction, the chief accounting officer owned 12,624 shares in the company, valued at $25,252,670.88. This represents a 8.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,778 shares of company stock worth $59,746,124. 1.24% of the stock is owned by insiders.

Institutional Trading of Comfort Systems USA

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Comfort Systems USA by 35.6% in the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock worth $1,333,367,000 after purchasing an additional 375,118 shares during the last quarter. Invesco Ltd. increased its holdings in Comfort Systems USA by 7.4% in the 3rd quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock worth $878,454,000 after buying an additional 73,727 shares in the last quarter. AQR Capital Management LLC raised its position in Comfort Systems USA by 22.1% in the 4th quarter. AQR Capital Management LLC now owns 1,019,922 shares of the construction company’s stock worth $951,883,000 after buying an additional 184,362 shares during the last quarter. Morgan Stanley lifted its stake in Comfort Systems USA by 24.9% during the 4th quarter. Morgan Stanley now owns 431,673 shares of the construction company’s stock valued at $402,878,000 after acquiring an additional 86,013 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Comfort Systems USA by 3.1% during the 4th quarter. Northern Trust Corp now owns 318,782 shares of the construction company’s stock valued at $297,516,000 after acquiring an additional 9,459 shares during the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc is a U.S.-based mechanical contracting company that provides a range of heating, ventilation and air conditioning (HVAC) services to commercial, industrial and institutional customers. The company focuses on the design, installation, maintenance and repair of HVAC systems, and it supports projects from initial engineering and system selection through long-term service agreements and upgrades.

Its service offerings include new construction and retrofit installations, preventive and corrective maintenance, emergency repair, energy management and building automation systems.