Comfort Systems USA (NYSE:FIX) Stock Price Down 5.9% After Insider Selling

Shares of Comfort Systems USA, Inc. (NYSE:FIX) dropped 5.9% on Tuesday after an insider sold shares in the company. The stock traded as low as $479.09 and last traded at $471.98. Approximately 81,296 shares traded hands during trading, a decline of 81% from the average daily volume of 435,750 shares. The stock had previously closed at $501.33.

Specifically, Director Darcy Anderson sold 8,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $506.82, for a total value of $4,054,560.00. Following the sale, the director now directly owns 26,535 shares in the company, valued at approximately $13,448,468.70. This trade represents a 23.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

FIX has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on Comfort Systems USA from $471.00 to $512.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Comfort Systems USA from a “hold” rating to a “buy” rating in a report on Saturday. DA Davidson boosted their price target on shares of Comfort Systems USA from $440.00 to $465.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Sidoti upgraded shares of Comfort Systems USA from a “neutral” rating to a “buy” rating and set a $552.00 price target for the company in a report on Monday, February 24th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Comfort Systems USA currently has a consensus rating of “Buy” and a consensus target price of $525.80.

Comfort Systems USA Price Performance

The stock has a 50-day moving average price of $418.63 and a 200 day moving average price of $419.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of 33.37 and a beta of 1.51.

Comfort Systems USA (NYSE:FIX) last posted its earnings results on Thursday, April 24th. The construction company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.09. Comfort Systems USA had a return on equity of 35.28% and a net margin of 7.43%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $2.69 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. As a group, equities research analysts forecast that Comfort Systems USA, Inc. will post 16.85 earnings per share for the current fiscal year.

Comfort Systems USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.37%. This is a boost from Comfort Systems USA’s previous quarterly dividend of $0.40. Comfort Systems USA’s payout ratio is 10.80%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. grew its position in Comfort Systems USA by 15.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,260 shares of the construction company’s stock worth $958,000 after purchasing an additional 300 shares during the last quarter. Empowered Funds LLC purchased a new position in Comfort Systems USA during the 4th quarter worth $1,149,000. Kestra Private Wealth Services LLC grew its position in Comfort Systems USA by 2.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 1,826 shares of the construction company’s stock worth $774,000 after purchasing an additional 43 shares during the last quarter. Savant Capital LLC grew its position in Comfort Systems USA by 0.8% during the 4th quarter. Savant Capital LLC now owns 4,101 shares of the construction company’s stock worth $1,739,000 after purchasing an additional 33 shares during the last quarter. Finally, Fortress Financial Solutions LLC purchased a new position in Comfort Systems USA during the 4th quarter worth $643,000. 96.51% of the stock is owned by hedge funds and other institutional investors.

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.