Comfort Systems USA (NYSE:FIX) Cut to Hold at Erste Group Bank

Erste Group Bank downgraded shares of Comfort Systems USA (NYSE:FIX) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat.com reports. Erste Group Bank also issued estimates for Comfort Systems USA’s FY2027 earnings at $56.00 EPS.

FIX has been the topic of a number of other reports. KeyCorp raised Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 target price on the stock in a report on Friday, April 24th. Glj Research started coverage on shares of Comfort Systems USA in a research note on Monday, April 20th. They issued a “buy” rating and a $2,001.00 price objective on the stock. Zacks Research downgraded shares of Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Oppenheimer started coverage on shares of Comfort Systems USA in a report on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of “Moderate Buy” and an average price target of $2,015.43.

Comfort Systems USA Stock Performance

FIX opened at $1,667.28 on Wednesday. The business has a 50 day moving average price of $1,861.34 and a two-hundred day moving average price of $1,540.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market capitalization of $58.69 billion, a price-to-earnings ratio of 48.10 and a beta of 1.66. Comfort Systems USA has a 1-year low of $513.99 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.81 by $3.70. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the firm earned $4.75 EPS. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. Research analysts predict that Comfort Systems USA will post 43.39 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 15th were paid a dividend of $0.80 per share. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, May 15th. Comfort Systems USA’s payout ratio is currently 9.23%.

Insider Activity at Comfort Systems USA

In other Comfort Systems USA news, Director Rhoman J. Hardy sold 342 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total value of $649,827.36. Following the completion of the transaction, the director directly owned 1,890 shares in the company, valued at $3,591,151.20. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Franklin Myers sold 6,700 shares of Comfort Systems USA stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the completion of the transaction, the director directly owned 62,115 shares in the company, valued at approximately $121,401,904.05. This trade represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 30,778 shares of company stock valued at $59,746,124. Corporate insiders own 1.24% of the company’s stock.

Hedge Funds Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its stake in Comfort Systems USA by 6.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 21,390 shares of the construction company’s stock valued at $42,394,000 after purchasing an additional 1,357 shares during the period. Carolina Wealth Advisors LLC boosted its position in shares of Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock worth $36,000 after buying an additional 7 shares during the period. Fulton Bank N.A. grew its holdings in shares of Comfort Systems USA by 3.0% during the second quarter. Fulton Bank N.A. now owns 621 shares of the construction company’s stock valued at $1,231,000 after buying an additional 18 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Comfort Systems USA during the second quarter valued at $200,000. Finally, Tactive Advisors LLC acquired a new position in Comfort Systems USA during the second quarter valued at $575,000. 96.51% of the stock is currently 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.