Comfort Systems USA, Inc. (FIX)

Over the past six months, Comfort Systems USA, Inc. stock has experienced substantial growth, jumping 129% year-to-date as of November 27, 2025. The company reported strong financial performance in Q1 2024 and Q3 2025, with increases in EPS, backlog, revenue, and net income. Executives Brian E. Lane and Franklin Myers sold shares of company stock. The company increased its quarterly dividend from $0.50 to $0.60. Analyst sentiment has been generally positive, with some upgrades, while others have adjusted their ratings due to valuation. In Q3 CY2024, the company's revenue missed analyst expectations, but its EPS and EBITDA surpassed estimates.

Demand for Comfort Systems USA's products and services exhibits some seasonality. The company's backlog tends to build up in the fourth and first quarters of the year, while it typically decreases in the second and third quarters. This seasonal booking pattern is particularly pronounced in the modular segment. However, the company has noted a trend towards less seasonality, partly due to an increasing number of projects in warmer climates. Furthermore, strong and sustained demand across key sectors has been a significant driver of growth and has helped to mitigate traditional seasonality.

Comfort Systems USA, Inc. specializes in mechanical and electrical contracting services, operating in the Construction sector, specifically in the Building Products - Air Conditioner and Heating industry. The company provides HVAC, plumbing, piping, and controls services, along with off-site construction, monitoring, fire protection, and electrical systems. It builds, installs, maintains, repairs, and replaces MEP systems, offering engineering, design-assist, and turnkey construction services for modular systems. In 2024, 56.7% of its revenue came from installation services in newly constructed facilities, while 43.3% was from renovation, expansion, maintenance, repair, and replacement services in existing buildings.

Comfort Systems USA, Inc. has a significant presence across the United States, operating through approximately 47 operating units, encompassing 178 locations in 136 cities nationwide. Its corporate headquarters are located in Houston, Texas.

Comfort Systems USA has maintained a strong brand reputation over the past year. The company was ranked 6th by Engineering News-Record on its list of the top 600 specialty contractors. Analyst consensus ratings for FIX are generally "Buy" or "Strong Buy," with an average target price of $892.75 as of late November 2025. The company is also recognized for having a "wide economic moat" due to its scale, industry knowledge, and the tangible switching costs for its customers.

Comfort Systems USA, Inc. is predominantly owned by institutional shareholders, who hold approximately 94.30% of the stock. Insiders own about 3.92%, and retail investors hold around 1.77%. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., Fmr LLC, Capital World Investors, State Street Corp, Geode Capital Management, L.L.C., AQR Capital Management, LLC, Westfield Capital Management Company, L.P., Invesco Capital Management LLC, and JP Morgan Asset Management. The largest individual shareholder is William F. Murdy, who owns 460,978 shares, representing 1.31% of the company.