DA Davidson Weighs in on Comfort Systems USA, Inc.’s Q2 2024 Earnings (NYSE:FIX)

Comfort Systems USA, Inc. (NYSE:FIX) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Comfort Systems USA in a research note issued on Monday, April 29th. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings per share of $3.04 for the quarter. DA Davidson currently has a “Buy” rating and a $350.00 price target on the stock. The consensus estimate for Comfort Systems USA’s current full-year earnings is $11.42 per share. DA Davidson also issued estimates for Comfort Systems USA’s FY2024 earnings at $11.90 EPS and FY2025 earnings at $13.50 EPS.

Other analysts also recently issued reports about the company. StockNews.com raised Comfort Systems USA from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. UBS Group increased their price target on Comfort Systems USA from $208.00 to $254.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, KeyCorp started coverage on shares of Comfort Systems USA in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $310.69 on Tuesday. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 30.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.96. Comfort Systems USA has a fifty-two week low of $144.45 and a fifty-two week high of $335.25. The firm’s 50-day simple moving average is $304.49 and its 200 day simple moving average is $236.37.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings data on Thursday, April 25th. The construction company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.43. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. Comfort Systems USA had a net margin of 6.51% and a return on equity of 28.65%. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period last year, the firm earned $1.51 earnings per share.

Hedge Funds Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC raised its stake in shares of Comfort Systems USA by 22.2% in the third quarter. AE Wealth Management LLC now owns 1,714 shares of the construction company’s stock valued at $292,000 after buying an additional 311 shares during the period. Linden Thomas Advisory Services LLC raised its stake in Comfort Systems USA by 14.9% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,887 shares of the construction company’s stock valued at $322,000 after acquiring an additional 244 shares during the period. Redwood Investments LLC purchased a new stake in Comfort Systems USA during the third quarter valued at about $13,801,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Comfort Systems USA during the third quarter worth about $3,212,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Comfort Systems USA by 18.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,421 shares of the construction company’s stock worth $1,265,000 after purchasing an additional 1,175 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Insider Activity

In other Comfort Systems USA news, Director Darcy Anderson sold 3,800 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $316.60, for a total value of $1,203,080.00. Following the transaction, the director now owns 43,741 shares of the company’s stock, valued at $13,848,400.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Brian E. Lane sold 16,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $312.13, for a total transaction of $4,994,080.00. Following the completion of the transaction, the insider now directly owns 227,926 shares of the company’s stock, valued at approximately $71,142,542.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Darcy Anderson sold 3,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $316.60, for a total transaction of $1,203,080.00. Following the sale, the director now owns 43,741 shares of the company’s stock, valued at approximately $13,848,400.60. The disclosure for this sale can be found here. Insiders sold a total of 46,614 shares of company stock valued at $13,739,345 over the last three months. 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 Friday, May 24th. Stockholders of record on Monday, May 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from Comfort Systems USA’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 0.39%. Comfort Systems USA’s dividend payout ratio is currently 9.90%.

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.