The COO of Comfort Systems USA sells $1.94 million worth of stock Via Investing.com
The Trent (NS:) T. McKenna, Executive Vice President and Chief Operating Officer of Company Comfort Systems USA Inc . (NYSE:NYSE:), recently made a series of stock transactions according to a filing with the Securities and Exchange Commission. On November 22nd, McKenna sold 4,000 shares of Comfort Systems common stock at an average price of $484.81 per share, amounting to approximately $1.94 million.
In the same filing, McKenna reported exercising options to acquire 4,000 shares in two separate transactions. The first involved 2,000 shares at a price of $36.25 each, and the second for another 2,000 shares at $42.50 each. These option exercises resulted in a total transaction value of $157,500. After this purchase, McKenna owns 23,990 shares of Comfort Systems USA.
In other recent news, Comfort Systems USA reported record third-quarter 2024 earnings of $4.09 per share, marking a 40% increase from last year. This increase was driven by unprecedented growth in the company’s Electrical division, which contributed to a 50% year-over-year increase in operating income and an 18% increase in same-store revenue. The company’s order backlog also grew 32% to $5.7 billion, and quarterly dividends were raised to $0.35 per share.
Comfort Systems USA stock received an upgrade rating from UBS, from Neutral to Buy, with a new price target set at $525. UBS’s outlook is based on strong growth expectations over the next two years, driven by the Manufacturing and Tech/Data Centers sectors. Additionally, Stifel initiated coverage on Comfort Systems USA with a buy rating and a $524 target price, citing the company’s leading position in the market and its significant involvement in the construction of data centers and manufacturing facilities.
Looking ahead, Comfort Systems USA expects continued strong performance, driven by strong demand in the industrial and institutional markets and continued investment in modular design and advanced technology. According to UBS, if Comfort Systems USA achieves these financial goals, there could be a 15-20% increase in its shares in the next year. However, despite a slight decline in the manufacturing sector compared to last year, the company remains optimistic for 2025, citing a strong pipeline of projects and a strong backlog.
InvestingPro Insights
Comfort Systems USA Inc. (NYSE:FIX) has experienced significant growth and financial success, as reflected in both the company’s recent internal transactions and financial metrics. According to InvestingPro data, FIX boasts a market capitalization of $17.42 billion, which shows its presence in the industry.
The company’s strong performance is further evidenced by its impressive revenue growth of 31.23% over the past twelve months from Q3 2024, and strong EBITDA growth of 73.65% over the same period. These figures are consistent with the insider’s decision to exercise options and sell shares less, which may have benefited the company’s positive momentum.
InvestingPro Tips highlights that FIX has increased its dividend for 12 consecutive years, demonstrating its commitment to shareholder returns. This is particularly noteworthy considering recent internal activity, as it suggests confidence in the company’s continued financial health and ability to generate cash flow.
Additionally, analysts expect sales growth this year, which could support the stock’s performance. The company’s price-to-earnings ratio of 37.49 indicates that investors are willing to pay a premium for FIX shares, possibly due to its growth prospects and consistent dividend increases.
For investors looking for a comprehensive analysis, InvestingPro offers 20 additional tips for Comfort Systems USA, providing a deeper understanding of the company’s financial position and market outlook.
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