Comfort Systems USA (NYSE:FIX) Stock Gets Price Target Reduction from KeyCorp

Comfort Systems USA (NYSE:FIX) had its price objective lowered by KeyCorp from $2,125.00 to $1,979.00 in a research report released on Monday, MarketBeat reports. The firm currently has an overweight rating on the construction company’s stock.

FIX has been the subject of a number of other research reports. The Goldman Sachs Group set a $1,875.00 price objective on Comfort Systems USA in a report on Tuesday, October 20th. DA Davidson began coverage on Comfort Systems USA in a report on Friday, August 21st. They set a “buy” rating and a $2,100.00 target price on the stock. 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 lowered shares of Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, UBS Group reduced their price objective on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,916.14.

Comfort Systems USA Price Performance

FIX opened at $1,346.81 on Monday. The company has a fifty day moving average price of $1,577.57 and a two-hundred day moving average price of $1,594.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.15. Comfort Systems USA has a 52 week low of $841.66 and a 52 week high of $2,073.99. The firm has a market capitalization of $47.12 billion, a PE ratio of 29.08 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX) last issued its earnings results on Thursday, October 22nd. The construction company reported $13.91 EPS for the quarter, beating the consensus estimate of $12.85 by $1.06. Comfort Systems USA had a net margin of 13.01% and a return on equity of 55.24%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company posted $8.25 EPS. The business’s revenue for the quarter was up 53.7% compared to the same quarter last year. As a group, analysts anticipate that Comfort Systems USA will post 49.21 earnings per share for the current year.

Comfort Systems USA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 12th. This is a drop from Comfort Systems USA’s previous quarterly dividend of $0.90. Comfort Systems USA’s dividend payout ratio (DPR) is 8.64%.

Insiders Place Their Bets

In other Comfort Systems USA news, Director Franklin Myers sold 4,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the completion of the sale, the director directly owned 8,495 shares in the company, valued at $14,389,850.40. This represents a 32.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George, III sold 2,554 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was 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. This represents a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 26,078 shares of company stock worth $43,211,828. 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 modified their holdings of FIX. BlackRock Inc. acquired a new stake in Comfort Systems USA during the 2nd quarter worth approximately $6,734,037,000. Amundi raised its holdings 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 acquiring an additional 156,069 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Comfort Systems USA by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 279,947 shares of the construction company’s stock worth $385,800,000 after acquiring an additional 14,423 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Comfort Systems USA by 12.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 252,979 shares of the construction company’s stock worth $348,856,000 after acquiring an additional 28,712 shares during the period. Finally, Value Aligned Research Advisors LLC lifted its position in Comfort Systems USA by 14.0% in the 2nd quarter. Value Aligned Research Advisors LLC now owns 243,607 shares of the construction company’s stock valued at $482,817,000 after acquiring an additional 29,970 shares in 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.