EMCOR Group (NYSE:EME) Shares Gap Up to $356.73

Shares of EMCOR Group, Inc. (NYSE:EME) gapped up before the market opened on Thursday . The stock had previously closed at $356.73, but opened at $388.61. EMCOR Group shares last traded at $379.00, with a volume of 163,299 shares traded.

EMCOR Group Price Performance

The firm has a 50-day moving average price of $377.59 and a two-hundred day moving average price of $328.83. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 23.53 and a beta of 1.06.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $1.25. The firm had revenue of $3.43 billion for the quarter. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. On average, equities analysts predict that EMCOR Group, Inc. will post 16.3 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

Insider Transactions at EMCOR Group

In other news, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the transaction, the director now owns 16,807 shares in the company, valued at $6,289,683.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EMCOR Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in EMCOR Group during the 4th quarter worth $153,739,000. Burgundy Asset Management Ltd. increased its stake in EMCOR Group by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after acquiring an additional 11,479 shares during the period. Allspring Global Investments Holdings LLC increased its stake in EMCOR Group by 20.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock worth $152,170,000 after acquiring an additional 73,975 shares during the period. TimesSquare Capital Management LLC increased its stake in EMCOR Group by 93.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock worth $91,791,000 after acquiring an additional 205,793 shares during the period. Finally, Acadian Asset Management LLC increased its stake in EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after acquiring an additional 139,919 shares during the period. 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.