EMCOR Group, Inc. (NYSE:EME) Increases Dividend to $0.25 Per Share

EMCOR Group, Inc. (NYSE:EME) declared a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Stockholders of record on Tuesday, April 16th will be paid a dividend of 0.25 per share by the construction company on Tuesday, April 30th. 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 positive change from EMCOR Group’s previous quarterly dividend of $0.18.

EMCOR Group has increased its dividend by an average of 29.2% annually over the last three years and has raised its dividend every year for the last 3 years. EMCOR Group has a payout ratio of 4.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect EMCOR Group to earn $15.75 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 4.6%.

EMCOR Group Stock Down 0.1 %

Shares of NYSE:EME opened at $351.88 on Friday. EMCOR Group has a 52-week low of $154.00 and a 52-week high of $369.53. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of 26.44 and a beta of 1.10. The business has a 50-day moving average price of $309.31 and a 200-day moving average price of $246.34.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.96. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the business posted $2.63 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities analysts anticipate that EMCOR Group will post 14.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of EMCOR Group

Institutional investors have recently bought and sold shares of the business. Zions Bancorporation N.A. purchased a new stake in shares of EMCOR Group during the first quarter worth approximately $26,000. Parkside Financial Bank & Trust increased its position in shares of EMCOR Group by 66.2% during the first quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in EMCOR Group during the first quarter worth $35,000. First Capital Advisors Group LLC. acquired a new position in EMCOR Group during the second quarter worth $89,000. Finally, Covestor Ltd boosted its stake in EMCOR Group by 92.0% during the first quarter. Covestor Ltd now owns 912 shares of the construction company’s stock worth $103,000 after buying an additional 437 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.