EMCOR Group (NYSE:EME) Issues Quarterly Earnings Results

EMCOR Group (NYSE:EME) announced its earnings results on Thursday. The construction company reported $4.17 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25, reports. The firm had revenue of $3.43 billion for 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 Price Performance

EME stock traded up $4.67 during trading on Friday, hitting $354.02. 609,345 shares of the stock traded hands, 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. EMCOR Group has a 1 year low of $161.49 and a 1 year high of $369.53. The firm’s 50 day moving average is $328.76 and its two-hundred day moving average is $255.92.

EMCOR Group Increases Dividend

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

Insider Transactions at EMCOR Group

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 transaction of $1,917,900.00. Following the completion of 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of EMCOR Group

Several institutional investors have recently added to or reduced their stakes in EME. V Square Quantitative Management LLC bought a new stake in EMCOR Group in the 1st quarter worth about $28,000. Independence Bank of Kentucky bought a new position in EMCOR Group during the first quarter valued at approximately $33,000. Rise Advisors LLC purchased a new stake in EMCOR Group in the first quarter worth approximately $40,000. Northwest Investment Counselors LLC bought a new stake in EMCOR Group in the 1st quarter worth approximately $40,000. Finally, Allworth Financial LP lifted its holdings in shares of EMCOR Group by 83.8% during the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after buying an additional 62 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on EME. DA Davidson reissued a “buy” rating and set a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp started coverage on EMCOR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock.

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.