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

EMCOR Group, Inc. (NYSE:EME)’s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 changing hands.

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

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be issued a $0.25 dividend. The ex-dividend date is Monday, April 15th. 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 0.28%. EMCOR Group’s dividend payout ratio (DPR) is 7.51%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EMCOR Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new position in EMCOR Group in the 1st quarter worth approximately $177,000. Strategy Asset Managers LLC purchased a new stake in EMCOR Group in the 1st quarter worth approximately $315,000. Cambridge Investment Research Advisors Inc. lifted its position in EMCOR Group by 78.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,280 shares of the construction company’s stock worth $2,199,000 after buying an additional 2,758 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in EMCOR Group in the 1st quarter worth approximately $28,000. Finally, Assenagon Asset Management S.A. lifted its position in EMCOR Group by 23.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 141,492 shares of the construction company’s stock worth $49,550,000 after buying an additional 27,229 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Up 1.3 %

The company has a market cap of $16.66 billion, a PE ratio of 26.59 and a beta of 1.10. The business’s 50-day simple moving average is $328.76 and its 200-day simple moving average is $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.