Comfort Systems Adds 994,606 Shares to Buyback Authorization

Comfort Systems USA, Inc. expanded its stock repurchase program by up to 994,606 shares after its board approved an amendment Nov. 4, leaving as many as 1 million shares available for future purchases.

The heating, ventilation, air-conditioning and electrical contracting services provider had repurchased 11,752,570 shares for $1,711,769,315, excluding excise tax, through Nov. 4. Its previous authorization covered 11,757,964 shares, leaving 5,394 shares before the amendment. Together with the newly authorized shares, the remaining capacity is up to 1 million shares.

Comfort Systems filed the amendment in a Form 8-K on Nov. 5. Comfort Systems may buy shares on the open market or in private transactions when it chooses, subject to applicable law, market conditions and other considerations. The company expects to use available cash.

The board can alter the program, put it on hold, keep it in force longer or end it at any time. The authorization does not set a purchase schedule or require the company to buy all available shares.