EMCOR Group (NYSE:EME) Reaches New 1-Year High After Dividend Announcement

Shares of EMCOR Group, Inc. (NYSE:EME - Get Free Report) reached a new 52-week high during trading on Thursday after the company announced a dividend. The stock traded as high as $550.18 and last traded at $544.59, with a volume of 137046 shares. The stock had previously closed at $541.80.

The newly announced dividend which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.18%. EMCOR Group's dividend payout ratio is 4.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EME shares. Robert W. Baird started coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating and a $560.00 price target for the company. Stifel Nicolaus decreased their price target on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. William Blair started coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating for the company. UBS Group started coverage on EMCOR Group in a research note on Friday, June 13th. They issued a "buy" rating and a $570.00 price target for the company. Finally, TD Securities assumed coverage on EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $518.00.

EMCOR Group Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $474.05 and a 200 day moving average price of $441.49. The company has a market capitalization of $24.47 billion, a P/E ratio of 24.16 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping the consensus estimate of $4.57 by $0.84. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the company posted $4.17 EPS. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the sale, the director directly owned 7,094 shares of the company's stock, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer directly owned 208,989 shares of the company's stock, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.26% of the company's stock.

Institutional Trading of EMCOR Group

Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in EMCOR Group by 20.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company's stock valued at $7,317,000 after acquiring an additional 3,407 shares in the last quarter. Redwood Investment Management LLC acquired a new position in EMCOR Group in the 4th quarter valued at $1,417,000. Cambridge Investment Research Advisors Inc. raised its holdings in EMCOR Group by 146.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,700 shares of the construction company's stock valued at $3,955,000 after acquiring an additional 6,361 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of EMCOR Group by 17.5% during the 1st quarter. Fifth Third Bancorp now owns 844 shares of the construction company's stock worth $312,000 after buying an additional 126 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of EMCOR Group by 34.9% during the 1st quarter. GAMMA Investing LLC now owns 1,012 shares of the construction company's stock worth $374,000 after buying an additional 262 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.