EMCOR Group (NYSE:EME) Shares Gap Up on Better-Than-Expected Earnings

EMCOR Group, Inc. (NYSE:EME) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $338.89, but opened at $359.37. EMCOR Group shares last traded at $352.99, with a volume of 204,514 shares traded.

The construction company reported $4.17 EPS for the quarter, beating the consensus estimate of $2.92 by $1.25. The company had revenue of $3.43 billion during the quarter. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 15th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. EMCOR Group’s payout ratio is 7.51%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EME. DA Davidson reaffirmed a “buy” rating and set a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp began coverage on EMCOR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EME. V Square Quantitative Management LLC acquired a new position in EMCOR Group in the first quarter valued at about $28,000. Allworth Financial LP lifted its holdings in shares of EMCOR Group by 83.8% in the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after purchasing an additional 62 shares in the last quarter. Independence Bank of Kentucky bought a new stake in shares of EMCOR Group in the first quarter valued at about $33,000. Arlington Trust Co LLC bought a new stake in shares of EMCOR Group in the third quarter valued at about $35,000. Finally, CVA Family Office LLC bought a new stake in shares of EMCOR Group in the fourth quarter valued at about $39,000. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Up 1.3 %

The company has a market capitalization of $16.66 billion, a P/E ratio of 26.59 and a beta of 1.10. The business has a fifty day moving average price of $328.76 and a 200 day moving average price of $255.59.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.