Comfort Systems USA (NYSE:FIX) Stock Price Down 6.3% – Here’s Why

Shares of Comfort Systems USA, Inc. (NYSE:FIX) fell 6.3% during trading on Tuesday . The stock traded as low as $952.74 and last traded at $967.4950. 224,958 shares changed hands during trading, a decline of 26% from the average session volume of 304,663 shares. The stock had previously closed at $1,032.31.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FIX. Wall Street Zen downgraded shares of Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Stifel Nicolaus boosted their price objective on shares of Comfort Systems USA from $1,069.00 to $1,155.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. UBS Group increased their target price on Comfort Systems USA from $875.00 to $1,140.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, William Blair assumed coverage on Comfort Systems USA in a research note on Thursday, September 11th. They issued an “outperform” rating for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.75.

Comfort Systems USA Stock Performance

The business has a 50-day moving average of $959.79 and a 200 day moving average of $796.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.22 and a quick ratio of 1.20. The company has a market cap of $34.28 billion, a PE ratio of 41.14 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Monday, August 15th. The construction company reported $0.90 earnings per share (EPS) for the quarter. Comfort Systems USA had a return on equity of 43.59% and a net margin of 10.06%.The business had revenue of $713.90 million during the quarter. Equities research analysts anticipate that Comfort Systems USA, Inc. will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.2%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.50. Comfort Systems USA’s dividend payout ratio is 10.16%.

Insider Activity

In related news, SVP Laura Finley Howell sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $996.16, for a total value of $996,160.00. Following the transaction, the senior vice president directly owned 7,938 shares of the company’s stock, valued at approximately $7,907,518.08. This trade represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herman E. Bulls sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $1,013.62, for a total value of $2,027,240.00. Following the sale, the director directly owned 30,574 shares of the company’s stock, valued at $30,990,417.88. This represents a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,028 shares of company stock worth $25,381,151. Company insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Comfort Systems USA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIX. Invesco Ltd. boosted its position in shares of Comfort Systems USA by 7.4% in the third quarter. Invesco Ltd. now owns 1,064,560 shares of the construction company’s stock worth $878,454,000 after purchasing an additional 73,727 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Comfort Systems USA by 5.3% during the 2nd quarter. Westfield Capital Management Co. LP now owns 936,412 shares of the construction company’s stock valued at $502,113,000 after buying an additional 46,773 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Comfort Systems USA by 6.8% in the 3rd quarter. AQR Capital Management LLC now owns 835,560 shares of the construction company’s stock worth $678,475,000 after buying an additional 53,125 shares during the period. Geode Capital Management LLC boosted its holdings in Comfort Systems USA by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 821,897 shares of the construction company’s stock worth $440,764,000 after buying an additional 3,032 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Comfort Systems USA by 36.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 734,519 shares of the construction company’s stock worth $606,117,000 after buying an additional 197,613 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 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.