Comfort Systems USA (NYSE:FIX) Shares Down 3% – Should You Sell?

Shares of Comfort Systems USA, Inc. (NYSE:FIX) were down 3% on Tuesday. The stock traded as low as $1,382.15 and last traded at $1,419.9150. 140,081 shares were traded during trading, a decline of 67% from the average daily volume of 430,784 shares. The stock had previously closed at $1,464.07.

Analyst Upgrades and Downgrades

FIX has been the topic of several research analyst reports. KeyCorp lifted their price objective on shares of Comfort Systems USA from $2,110.00 to $2,125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. The Goldman Sachs Group set a $1,875.00 target price on shares of Comfort Systems USA in a research note on Tuesday. Zacks Research lowered Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings raised Comfort Systems USA from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, DA Davidson assumed coverage on Comfort Systems USA in a report on Friday, August 21st. They issued a “buy” rating and a $2,100.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,044.43.

Comfort Systems USA Price Performance

The firm has a market capitalization of $49.22 billion, a PE ratio of 34.42 and a beta of 1.66. The business’s 50 day moving average is $1,638.79 and its two-hundred day moving average is $1,732.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the business posted $6.53 EPS. The company’s revenue for the quarter was up 50.3% on a year-over-year basis. As a group, research analysts anticipate that Comfort Systems USA, Inc. will post 48.15 EPS for the current year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Thursday, August 13th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, August 13th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.80. Comfort Systems USA’s dividend payout ratio (DPR) is presently 8.85%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Franklin Myers sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the sale, the director directly owned 8,495 shares of the company’s stock, valued at approximately $14,389,850.40. This trade represents a 32.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William George, III sold 2,554 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the sale, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. The trade was a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,078 shares of company stock valued at $43,211,828 in the last ninety days. Insiders own 1.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Comfort Systems USA in the second quarter valued at approximately $6,734,037,000. Deutsche Bank AG acquired a new position in shares of Comfort Systems USA during the 2nd quarter valued at about $443,751,000. Legal & General Group Plc acquired a new position in Comfort Systems USA during the second quarter valued at approximately $400,096,000. Bank of New York Mellon Corp acquired a new stake in shares of Comfort Systems USA during the second quarter valued at about $370,479,000. Finally, Amundi lifted its position in shares of Comfort Systems USA by 114.1% during the second quarter. Amundi now owns 292,904 shares of the construction company’s stock worth $580,521,000 after purchasing an additional 156,069 shares during the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

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.