EMCOR Group (NYSE:EME) Shares Gap Up to $338.89

EMCOR Group, Inc. (NYSE:EME) shares gapped up prior to trading on Thursday . 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 trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EME. KeyCorp began coverage on shares of EMCOR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. DA Davidson reiterated a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Trading Up 3.1 %

The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 25.46 and a beta of 1.10. The stock’s 50 day moving average is $324.81 and its 200 day moving average is $253.91.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.96. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.36 billion. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.63 EPS. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 14.5 EPS for the current year.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.25 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Monday, April 15th. EMCOR Group’s dividend payout ratio (DPR) is currently 7.51%.

Insiders Place Their Bets

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in EMCOR Group in the first quarter valued at approximately $28,000. Allworth Financial LP raised its holdings in 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 buying an additional 62 shares during the period. Independence Bank of Kentucky purchased a new position in EMCOR Group in the first quarter valued at approximately $33,000. Arlington Trust Co LLC purchased a new position in EMCOR Group in the third quarter valued at approximately $35,000. Finally, CVA Family Office LLC purchased a new position in EMCOR Group in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Company Profile

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.