Emcor Group Inc. (EME) Hits New 1-Year High Following Dividend Announcement
Emcor Group Inc. (NYSE:EME) shares reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as $60.55 and last traded at $59.42, with a volume of 158,347 shares traded. The stock had previously closed at $59.66.
The newly announced dividend which will be paid on Friday, October 28th. Investors of record on Monday, October 17th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. Emcor Group’s dividend payout ratio (DPR) is presently 10.92%.
A number of research firms recently commented on EME. FBR & Co increased their price target on Emcor Group from $52.00 to $62.00 and gave the stock a “mkt perform” rating in a research report on Tuesday, August 16th. Zacks Investment Research lowered Emcor Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Finally, Sidoti began coverage on Emcor Group in a research report on Tuesday, June 21st. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Emcor Group currently has an average rating of “Buy” and a consensus price target of $57.00.
The company’s 50-day moving average price is $57.51 and its 200 day moving average price is $51.45. The stock has a market cap of $3.67 billion, a PE ratio of 20.61 and a beta of 1.10.
Emcor Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.24. Emcor Group had a return on equity of 12.33% and a net margin of 2.55%. The company earned $1.93 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. Equities research analysts predict that Emcor Group Inc. will post $3.10 earnings per share for the current fiscal year.
In other news, Director Jerry E. Ryan sold 6,202 shares of Emcor Group stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $55.42, for a total value of $343,714.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maxine Lum Mauricio sold 1,386 shares of Emcor Group stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $56.35, for a total transaction of $78,101.10. Following the completion of the sale, the senior vice president now owns 15,493 shares of the company’s stock, valued at $873,030.55. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in EME. 1st Global Advisors Inc. increased its stake in Emcor Group by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 5,637 shares of the company’s stock worth $278,000 after buying an additional 32 shares during the last quarter. OLD National Bancorp IN increased its stake in Emcor Group by 2.7% in the second quarter. OLD National Bancorp IN now owns 5,621 shares of the company’s stock worth $277,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Emcor Group by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 48,300 shares of the company’s stock worth $2,379,000 after buying an additional 200 shares during the last quarter. Sii Investments Inc. WI increased its stake in Emcor Group by 4.3% in the second quarter. Sii Investments Inc. WI now owns 6,788 shares of the company’s stock worth $334,000 after buying an additional 280 shares during the last quarter. Finally, United Services Automobile Association increased its stake in Emcor Group by 2.9% in the second quarter. United Services Automobile Association now owns 9,890 shares of the company’s stock worth $487,000 after buying an additional 280 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.
Emcor Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides a number of building services and industrial services. The Company’s segments are United 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.
Receive News & Ratings for Emcor Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emcor Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.