EMCOR Group, Inc. (NYSE:EME) declared a quarterly dividend on Tuesday, October 5th, Wall Street Journal reports. Stockholders of record on Friday, October 15th will be paid a dividend of 0.13 per share by the construction company on Friday, October 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, October 14th.
EMCOR Group has a payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect EMCOR Group to earn $7.47 per share next year, which means the company should continue to be able to cover its $0.47 annual dividend with an expected future payout ratio of 6.3%.
Shares of EME opened at $115.56 on Wednesday. EMCOR Group has a 1 year low of $63.69 and a 1 year high of $129.45. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $118.95 and a 200-day simple moving average of $120.55. The stock has a market cap of $6.21 billion, a PE ratio of 19.65 and a beta of 1.22.
In other EMCOR Group news, CEO Anthony Guzzi sold 13,247 shares of the stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $118.04, for a total value of $1,563,675.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in EMCOR Group stock. Morgan Stanley raised its position in EMCOR Group, Inc. (NYSE:EME) by 85.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 144,414 shares of the construction company’s stock after buying an additional 66,393 shares during the period. Morgan Stanley owned about 0.27% of EMCOR Group worth $17,790,000 as of its most recent filing with the SEC. 93.66% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on EME. Zacks Investment Research cut EMCOR Group from a “buy” rating to a “hold” rating and set a $126.00 price target for the company. in a report on Monday, August 23rd. DA Davidson raised their price target on EMCOR Group from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, July 30th. They noted that the move was a valuation call.
About EMCOR Group
EMCOR Group, Inc engages in the provision of electrical and mechanical construction and facilities services. It operates through the following segments: Unites States Electrical Construction and Facilities Services; United States Mechanical Construction and Facilities Services; United States Building Services; United States Industrial Services; and United Kingdom Building Services.
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