Comfort Systems USA (NYSE:FIX) Stock Price Down 6.8% – Should You Sell?

Comfort Systems USA, Inc. (NYSE:FIX)’s stock price traded down 6.8% during mid-day trading on Monday . The stock traded as low as $1,877.12 and last traded at $1,856.7070. 93,449 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 420,878 shares. The stock had previously closed at $1,992.74.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Comfort Systems USA in a report on Monday, April 20th. Stifel Nicolaus boosted their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group boosted their price objective on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, DA Davidson boosted their price objective on Comfort Systems USA from $1,200.00 to $1,800.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,923.20.

Comfort Systems USA Trading Down 7.0%

The company has a market capitalization of $65.21 billion, a P/E ratio of 53.67 and a beta of 1.70. 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 firm has a fifty day moving average price of $1,599.07 and a 200-day moving average price of $1,263.40.

Comfort Systems USA (NYSE:FIX) last released its 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. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.Comfort Systems USA’s quarterly revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.75 earnings per share. On average, equities research analysts anticipate that Comfort Systems USA, Inc. will post 43.17 earnings per share for the current year.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Friday, May 15th will be issued a $0.80 dividend. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, May 15th. Comfort Systems USA’s dividend payout ratio is currently 9.23%.

Insider Buying and Selling

In other Comfort Systems USA news, CFO William George III sold 9,000 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $1,434.97, for a total transaction of $12,914,730.00. Following the completion of the transaction, the chief financial officer directly owned 37,824 shares of the company’s stock, valued at approximately $54,276,305.28. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Franklin Myers sold 8,636 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $1,472.56, for a total value of $12,717,028.16. Following the transaction, the director directly owned 73,995 shares of the company’s stock, valued at approximately $108,962,077.20. This trade represents a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,024 shares of company stock valued at $99,678,386 over the last quarter. Corporate insiders own 1.24% of the company’s stock.

Hedge Funds Weigh In On Comfort Systems USA

Institutional investors and hedge funds have recently bought and sold shares of the company. Quent Capital LLC bought a new position in Comfort Systems USA during the third quarter valued at $25,000. Ameriflex Group Inc. grew its holdings in Comfort Systems USA by 100.0% during the third quarter. Ameriflex Group Inc. now owns 30 shares of the construction company’s stock valued at $25,000 after purchasing an additional 15 shares during the period. Core Wealth Advisors LLC bought a new position in Comfort Systems USA during the fourth quarter valued at $28,000. CENTRAL TRUST Co bought a new position in Comfort Systems USA during the first quarter valued at $46,000. Finally, Ascentis Independent Advisors bought a new position in Comfort Systems USA during the first quarter valued at $46,000. 96.51% of the stock is owned by 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.