EMCOR Group (NYSE:EME) Sets New 52-Week High Following 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 company traded as high as $550.18 and last traded at $544.59, with a volume of 137046 shares changing hands. 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.18%. EMCOR Group's dividend payout ratio (DPR) is 4.42%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EME shares. UBS Group began coverage on shares of EMCOR Group in a research report on Friday, June 13th. They issued a "buy" rating and a $570.00 price target on the stock. Stifel Nicolaus reduced their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Hovde Group raised EMCOR Group to a "hold" rating in a research report on Friday, June 27th. Robert W. Baird began coverage on EMCOR Group in a research report on Friday, June 27th. They issued an "outperform" rating and a $560.00 target price for the company. Finally, TD Securities began coverage on EMCOR Group in a research report on Friday, June 27th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, EMCOR Group currently has an average rating of "Moderate Buy" and a consensus target price of $518.00.

EMCOR Group Trading Up 0.9%

The stock has a market cap of $24.47 billion, a price-to-earnings ratio of 24.16 and a beta of 1.24. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $471.34 and a 200-day moving average of $441.16.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating analysts' consensus estimates of $4.57 by $0.84. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $4.17 EPS. As a group, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

Insider Transactions at EMCOR Group

In related news, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the transaction, the chief executive officer directly owned 208,989 shares in the company, valued at $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director owned 7,094 shares in the company, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.83% of the company's stock.

Hedge Funds Weigh In On EMCOR Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. McLean Asset Management Corp increased its stake in EMCOR Group by 2.8% during the second quarter. McLean Asset Management Corp now owns 700 shares of the construction company's stock valued at $379,000 after acquiring an additional 19 shares during the period. Petra Financial Advisors Inc. increased its stake in EMCOR Group by 1.4% during the fourth quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company's stock valued at $789,000 after acquiring an additional 24 shares during the period. True Wealth Design LLC increased its stake in EMCOR Group by 24.3% during the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after acquiring an additional 26 shares during the period. GeoWealth Management LLC grew its stake in shares of EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after purchasing an additional 28 shares during the period. Finally, Continuum Advisory LLC grew its stake in shares of EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after purchasing an additional 29 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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.