Comfort Systems USA (NYSE:FIX) Shares Gap Up After Better-Than-Expected Earnings

Comfort Systems USA, Inc. (NYSE:FIX)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $382.13, but opened at $411.56. Comfort Systems USA shares last traded at $388.76, with a volume of 131,266 shares trading hands.

The construction company reported $4.09 EPS for the quarter, beating the consensus estimate of $3.63 by $0.46. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Comfort Systems USA had a net margin of 7.18% and a return on equity of 32.74%.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $0.40 dividend. This is an increase from Comfort Systems USA’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 0.42%. Comfort Systems USA’s dividend payout ratio is presently 10.71%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FIX shares. Stifel Nicolaus increased their price target on shares of Comfort Systems USA from $524.00 to $577.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Northcoast Research started coverage on shares of Comfort Systems USA in a research note on Friday, November 22nd. They issued a “buy” rating and a $525.00 price target for the company. UBS Group increased their price target on shares of Comfort Systems USA from $525.00 to $575.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, StockNews.com raised shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Saturday, February 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $506.75.

Institutional Investors Weigh In On Comfort Systems USA

A number of hedge funds and other institutional investors have recently bought and sold shares of FIX. Proficio Capital Partners LLC purchased a new stake in Comfort Systems USA in the fourth quarter worth about $217,771,000. Norges Bank purchased a new stake in Comfort Systems USA in the fourth quarter worth about $196,154,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Comfort Systems USA in the third quarter worth about $138,987,000. JPMorgan Chase & Co. grew its holdings in Comfort Systems USA by 191.2% in the fourth quarter. JPMorgan Chase & Co. now owns 380,896 shares of the construction company’s stock worth $161,523,000 after purchasing an additional 250,085 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Comfort Systems USA by 824.2% during the fourth quarter. Voya Investment Management LLC now owns 233,553 shares of the construction company’s stock valued at $98,985,000 after buying an additional 208,283 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Comfort Systems USA Trading Up 0.0 %

The stock’s fifty day moving average price is $446.90 and its 200 day moving average price is $414.14. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The stock has a market cap of $13.61 billion, a PE ratio of 29.56 and a beta of 1.22.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.