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

EMCOR Group, Inc. (NYSE:EME)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. 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 traded.

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 for the quarter. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be given a $0.25 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. 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. EMCOR Group’s dividend payout ratio is currently 7.51%.

Analyst Ratings Changes

Several brokerages have recently issued reports on EME. DA Davidson restated a “buy” rating and issued a $375.00 price objective on shares of EMCOR Group in a research report on Friday, March 22nd. KeyCorp began coverage on EMCOR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 6,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the transaction, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EMCOR Group

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of EMCOR Group in the 4th quarter worth about $153,739,000. Fuller & Thaler Asset Management Inc. raised its holdings in shares of EMCOR Group by 41.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company’s stock worth $224,813,000 after purchasing an additional 310,718 shares during the period. Pacer Advisors Inc. raised its holdings in shares of EMCOR Group by 3,091.7% in the 4th quarter. Pacer Advisors Inc. now owns 313,998 shares of the construction company’s stock worth $67,645,000 after purchasing an additional 304,160 shares during the period. Invesco Ltd. raised its holdings in shares of EMCOR Group by 40.1% in the 3rd quarter. Invesco Ltd. now owns 919,304 shares of the construction company’s stock worth $193,412,000 after purchasing an additional 263,330 shares during the period. Finally, FMR LLC raised its holdings in shares of EMCOR Group by 7.3% in the 3rd quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock worth $747,239,000 after purchasing an additional 241,920 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

The business has a fifty day moving average price of $328.76 and a 200 day moving average price of $255.59. The company has a market capitalization of $16.66 billion, a PE 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.