HOUSTON—Vance W. Tang, a director at Comfort Systems USA Inc . (NYSE:FIX), recently sold shares in the company, according to a filing with the Securities and Exchange Commission. On October 28, Tang sold 2,700 shares of Comfort Systems USA common stock at an average price of $390 per share, generating a total of approximately $1.05 million. Following this transaction, Tang holds 5,498 shares indirectly through The Tang Living Trust, where he and his spouse serve as trustees.
In other recent news, Comfort Systems USA reported record third-quarter earnings of $4.09 per share, a substantial 40% increase from the previous year. This impressive performance was bolstered by unprecedented margins in the Electrical segment, leading to a 50% year-over-year rise in operating income and an 18% increase in same-store revenue. The company's backlog of orders also saw a significant growth of 32%, reaching $5.7 billion.
These developments were accompanied by a $0.05 increase in the quarterly dividend, now standing at $0.35 per share. Comfort Systems USA has projected a strong performance into the fourth quarter and into 2025, driven by robust demand in industrial and institutional markets, and continued investments in modular construction and advanced technology.
Investors may also find it noteworthy that the company anticipates high-single-digit to low double-digit percentage growth in sales for 2025. Despite a slight decline in the manufacturing sector, the firm remains optimistic due to a robust pipeline of projects and solid backlog. Lastly, the company has announced plans for disciplined acquisitions and increased share repurchases, signaling confidence in its financial position and future prospects.
InvestingPro Insights
The recent insider sale by Vance W. Tang comes at a time when Comfort Systems USA (NYSE:FIX) is experiencing significant growth and strong market performance. According to InvestingPro data, the company's stock has shown remarkable returns, with a 121.56% price total return over the past year and a 93.12% return year-to-date. This impressive performance aligns with the company's solid financial metrics.
InvestingPro Tips highlight that Comfort Systems USA has maintained dividend payments for 20 consecutive years, demonstrating a commitment to shareholder returns. Additionally, the company has raised its dividend for 12 consecutive years, which may be attractive to income-focused investors despite the current modest dividend yield of 0.35%.
The company's financial health appears robust, with InvestingPro data showing a market capitalization of $13.99 billion and strong revenue growth of 31.23% over the last twelve months as of Q3 2024. This growth is complemented by a healthy EBITDA growth of 73.65% over the same period, indicating improved operational efficiency.
For investors seeking more comprehensive analysis, InvestingPro offers 15 additional tips for Comfort Systems USA, providing a deeper understanding of the company's financial position and market outlook.
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