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

EMCOR Group, Inc. (NYSE:EME)’s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. 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 for the quarter, beating the consensus estimate of $2.92 by $1.25. The company 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 declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Monday, April 15th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio is 7.51%.

Analyst Ratings Changes

Several research firms have recently weighed in 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 restated a “buy” rating and set a $375.00 target price on shares of EMCOR Group in a report on Friday, March 22nd.

Insider Activity

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the sale, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On EMCOR Group

A number of hedge funds have recently made changes to their positions in EME. YHB Investment Advisors Inc. bought a new position in EMCOR Group in the 1st quarter valued at approximately $177,000. Strategy Asset Managers LLC bought a new stake in shares of EMCOR Group in the 1st quarter valued at $315,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of 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 valued at $2,199,000 after acquiring an additional 2,758 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in EMCOR Group in the 1st quarter valued at $28,000. Finally, Assenagon Asset Management S.A. grew 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 valued at $49,550,000 after purchasing an additional 27,229 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Trading Up 1.3 %

The firm’s 50-day moving average is $328.76 and its 200-day moving average is $255.59. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 26.59 and a beta of 1.10.

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.