Pablo G. Mercado, a director at Comfort Systems USA Inc . (NYSE:FIX), recently sold 2,500 shares of the company's common stock. The shares were sold at an average price of $409.46 per share, totaling approximately $1.02 million. Following this transaction, Mercado holds 9,036 shares in the company. The sale was disclosed in a filing with the Securities and Exchange Commission.
In other recent news, Comfort Systems USA reported a significant uptick in its third-quarter 2024 earnings, recording $4.09 per share, a 40% increase from the prior year. The company's Electrical segment experienced exceptional margins, leading to a 50% surge in operating income and an 18% growth in same-store revenue for the quarter. Additionally, the backlog of orders expanded to $5.7 billion, marking a 32% year-over-year increase.
Comfort Systems USA also announced a boost in its quarterly dividend, raising it by $0.05 to $0.35 per share. The company foresees a continued strong performance into the fourth quarter and into 2025, driven by robust demand in industrial and institutional markets, as well as ongoing investments in modular construction and advanced technology.
Despite a minor downturn in the manufacturing sector, the company's executives remain optimistic for 2025, underpinned by a solid pipeline of projects and a strong backlog. The company's strategic focus on efficiency initiatives, particularly in modular construction using automation and robotics, was highlighted as a key factor in their success. These are among the recent developments for Comfort Systems USA.
InvestingPro Insights
As Pablo G. Mercado's recent stock sale at Comfort Systems USA Inc. (NYSE:FIX) catches investor attention, it's worth delving into some key financial metrics and insights provided by InvestingPro to gain a broader perspective on the company's performance.
According to InvestingPro data, Comfort Systems USA boasts a market capitalization of $15.61 billion, reflecting its significant presence in the industry. The company's stock has shown remarkable strength, with a 135.63% price total return over the past year and an impressive 113.17% year-to-date return. This robust performance aligns with an InvestingPro Tip indicating that FIX is trading near its 52-week high, currently at 98.76% of that peak.
The company's financial health appears solid, with revenue growth of 31.23% over the last twelve months as of Q3 2024, and a strong EBITDA growth of 73.65% over the same period. These figures suggest that Comfort Systems USA is experiencing significant expansion in its operations.
An InvestingPro Tip highlights that FIX has raised its dividend for 12 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by a dividend growth rate of 55.56% over the last twelve months, although the current dividend yield stands at a modest 0.32%.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 17 more InvestingPro Tips available for Comfort Systems USA, providing a deeper understanding of the company's financial position and market performance.
Comfort Systems USA Inc. is a leading provider of mechanical and electrical contracting services in the United States. The company offers installation, repair, and maintenance services for heating, ventilation, air conditioning, refrigeration, plumbing, and electrical systems in commercial, industrial, and institutional buildings.
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