EMCOR Group (NYSE:EME) Shares Gap Up to $338.89

EMCOR Group, Inc. (NYSE:EME) gapped up before the market opened on Thursday . 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.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. KeyCorp assumed coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. DA Davidson restated a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Trading Up 3.1 %

The firm’s fifty day moving average price is $324.81 and its 200 day moving average price is $253.91. The firm has a market capitalization of $16.44 billion, a PE ratio of 25.46 and a beta of 1.10.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported $4.47 EPS for the quarter, beating the consensus estimate of $3.51 by $0.96. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the previous year, the company posted $2.63 EPS. EMCOR Group’s revenue was up 16.6% on a year-over-year basis. As a group, research analysts expect that EMCOR Group, Inc. will post 14.5 EPS for the current year.

EMCOR Group Increases Dividend

The firm also recently disclosed 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 represents a $1.00 annualized dividend and a dividend yield of 0.29%. 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’s payout ratio is presently 7.51%.

Insider Activity at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value 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 approximately $70,010,701.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EME. Norges Bank acquired a new position in EMCOR Group during the 4th quarter worth $153,739,000. Fuller & Thaler Asset Management Inc. lifted its position in EMCOR Group by 41.0% during 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 acquiring an additional 310,718 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of EMCOR Group by 3,091.7% during 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. increased its holdings in shares of EMCOR Group by 40.1% during 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 increased its holdings in shares of EMCOR Group by 7.3% during 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. Institutional investors and hedge funds own 92.59% of the company’s 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.