EMCOR Group (NYSE:EME) Posts Earnings Results

EMCOR Group (NYSE:EME) posted its earnings results on Thursday. The construction company reported $4.17 EPS for the quarter, topping the consensus estimate of $2.92 by $1.25, reports. The company had revenue of $3.43 billion during the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. EMCOR Group updated its FY 2024 guidance to 15.500-16.500 EPS and its FY24 guidance to $15.50-16.50 EPS.

EMCOR Group Stock Up 1.3 %

EME stock traded up $4.67 during midday trading on Friday, hitting $354.02. The company’s stock had a trading volume of 609,345 shares, compared to its average volume of 424,596. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 23.35 and a beta of 1.10. The stock’s 50-day moving average price is $328.76 and its 200 day moving average price is $255.92. EMCOR Group has a 1 year low of $161.49 and a 1 year high of $369.53.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be issued a dividend of $0.25 per share. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Monday, April 15th. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

Insider Activity

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction dated 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 owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On EMCOR Group

Several institutional investors and hedge funds have recently bought and sold shares of EME. V Square Quantitative Management LLC purchased a new position in shares of EMCOR Group during the 1st quarter valued at $28,000. Allworth Financial LP raised its stake in EMCOR Group by 83.8% in the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after acquiring an additional 62 shares during the period. Independence Bank of Kentucky purchased a new stake in EMCOR Group during the first quarter valued at about $33,000. Arlington Trust Co LLC purchased a new stake in EMCOR Group during the third quarter valued at about $35,000. Finally, CVA Family Office LLC bought a new position in EMCOR Group during the fourth quarter worth about $39,000. 92.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

EME has been the topic of a number of recent research reports. KeyCorp began coverage on EMCOR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. DA Davidson reiterated a “buy” rating and issued a $375.00 target price on shares of EMCOR Group in a report on Friday, March 22nd.

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.