Comfort Systems USA (NYSE:FIX) Downgraded by Erste Group Bank to “Hold”

Erste Group Bank downgraded shares of Comfort Systems USA (NYSE:FIX) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 target price on the stock. KeyCorp upgraded Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price target on the stock in a report on Friday, April 24th. 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 research report on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Monday, April 20th. Finally, Oppenheimer began coverage on Comfort Systems USA in a research note on Thursday, May 28th. They issued an “outperform” rating and a $2,200.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,015.43.

Comfort Systems USA Stock Down 2.2%

FIX opened at $1,736.17 on Wednesday. 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’s 50-day moving average is $1,872.16 and its 200 day moving average is $1,534.24. Comfort Systems USA has a fifty-two week low of $513.99 and a fifty-two week high of $2,073.99. The firm has a market capitalization of $61.11 billion, a P/E ratio of 50.09 and a beta of 1.66.

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

Comfort Systems USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 15th were paid a $0.80 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.20 dividend on an annualized basis and a yield of 0.2%. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.70. Comfort Systems USA’s dividend payout ratio (DPR) is presently 9.23%.

Insider Buying and Selling

In other news, insider Brian E. Lane sold 11,113 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,969.84, for a total transaction of $21,890,831.92. Following the sale, the insider directly owned 161,089 shares in the company, valued at $317,319,555.76. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Franklin Myers sold 6,700 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were 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 of the company’s stock, valued at approximately $121,401,904.05. The trade was a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,778 shares of company stock valued at $59,746,124 in the last 90 days. Corporate insiders own 1.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FIX. Signature Equity Partners LLC lifted its holdings in Comfort Systems USA by 16.7% in the 1st quarter. Signature Equity Partners LLC now owns 35 shares of the construction company’s stock worth $48,000 after purchasing an additional 5 shares during the last quarter. Coston McIsaac & Partners raised its stake in Comfort Systems USA by 3.0% during the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company’s stock valued at $329,000 after purchasing an additional 7 shares during the last quarter. Petra Financial Advisors Inc. boosted its holdings in Comfort Systems USA by 0.7% in the 1st quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company’s stock valued at $1,489,000 after purchasing an additional 7 shares during the period. Carolina Wealth Advisors LLC boosted its holdings in Comfort Systems USA by 63.6% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after purchasing an additional 7 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in Comfort Systems USA by 1.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 572 shares of the construction company’s stock worth $789,000 after purchasing an additional 8 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

Comfort Systems USA Company Profile

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.