Equities Analysts Offer Predictions for FIX FY2024 Earnings

Comfort Systems USA, Inc. (NYSE:FIX) – Investment analysts at DA Davidson raised their FY2024 earnings per share estimates for shares of Comfort Systems USA in a research report issued to clients and investors on Monday, October 28th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $13.88 for the year, up from their previous forecast of $13.79. The consensus estimate for Comfort Systems USA’s current full-year earnings is $13.79 per share.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings results on Thursday, October 24th. The construction company reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.97 by $0.12. Comfort Systems USA had a return on equity of 31.49% and a net margin of 7.02%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $2.74 EPS. The firm’s revenue was up 31.5% on a year-over-year basis.

Separately, StockNews.com upgraded Comfort Systems USA from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th.

Comfort Systems USA Stock Up 1.8 %

NYSE:FIX opened at $396.16 on Tuesday. Comfort Systems USA has a 12-month low of $176.33 and a 12-month high of $424.63. The company has a quick ratio of 0.97, a current ratio of 1.00 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $14.15 billion, a P/E ratio of 39.22 and a beta of 1.13. The stock’s fifty day simple moving average is $373.68 and its 200-day simple moving average is $336.89.

Institutional Trading of Comfort Systems USA

Several hedge funds and other institutional investors have recently modified their holdings of FIX. Capital World Investors raised its stake in shares of Comfort Systems USA by 26.6% in the 1st quarter. Capital World Investors now owns 2,153,707 shares of the construction company’s stock valued at $684,254,000 after purchasing an additional 451,852 shares during the period. Millennium Management LLC increased its position in shares of Comfort Systems USA by 477.9% in the second quarter. Millennium Management LLC now owns 342,724 shares of the construction company’s stock valued at $104,229,000 after acquiring an additional 283,416 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Comfort Systems USA by 56.4% in the first quarter. Westfield Capital Management Co. LP now owns 667,036 shares of the construction company’s stock valued at $211,924,000 after acquiring an additional 240,466 shares during the last quarter. Blackstone Inc. acquired a new stake in shares of Comfort Systems USA in the first quarter valued at about $41,302,000. Finally, Swedbank AB acquired a new stake in shares of Comfort Systems USA in the first quarter valued at about $31,771,000. Institutional investors and hedge funds own 96.51% of the company’s stock.

Insiders Place Their Bets

In other Comfort Systems USA news, Director Vance W. Tang sold 2,700 shares of Comfort Systems USA stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $390.00, for a total transaction of $1,053,000.00. Following the transaction, the director now directly owns 5,498 shares in the company, valued at approximately $2,144,220. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Comfort Systems USA news, CFO William George III sold 5,845 shares of Comfort Systems USA stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $332.16, for a total value of $1,941,475.20. Following the sale, the chief financial officer now owns 55,099 shares of the company’s stock, valued at $18,301,683.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vance W. Tang sold 2,700 shares of Comfort Systems USA stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $390.00, for a total value of $1,053,000.00. Following the completion of the sale, the director now directly owns 5,498 shares in the company, valued at $2,144,220. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,091 shares of company stock worth $9,129,855. Corporate insiders own 1.80% of the company’s stock.

Comfort Systems USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, November 14th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 0.35%. Comfort Systems USA’s payout ratio is currently 13.86%.

About Comfort Systems USA

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.