EMCOR Group, Inc. (EME) Director Jerry E. Ryan Sells 13,000 Shares
EMCOR Group, Inc. (NYSE:EME) Director Jerry E. Ryan sold 13,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of EMCOR Group, Inc. (EME) opened at 79.34 on Tuesday. EMCOR Group, Inc. has a 1-year low of $59.20 and a 1-year high of $80.64. The stock has a market cap of $4.70 billion, a P/E ratio of 23.78 and a beta of 0.89. The firm’s 50-day moving average price is $70.05 and its 200 day moving average price is $66.37.
EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.27. EMCOR Group had a return on equity of 13.94% and a net margin of 2.82%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts expect that EMCOR Group, Inc. will post $3.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Tuesday, October 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, October 16th. EMCOR Group’s dividend payout ratio (DPR) is 8.94%.
EMCOR Group announced that its Board of Directors has approved a stock buyback program on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Several analysts have weighed in on EME shares. BidaskClub downgraded EMCOR Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. KeyCorp reiterated a “hold” rating on shares of EMCOR Group in a research note on Friday, August 25th. Zacks Investment Research upgraded EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of EMCOR Group in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. EMCOR Group has an average rating of “Hold” and a consensus price target of $72.33.
Large investors have recently made changes to their positions in the company. Teachers Advisors LLC raised its position in shares of EMCOR Group by 6.4% during the 1st quarter. Teachers Advisors LLC now owns 530,988 shares of the construction company’s stock worth $33,426,000 after purchasing an additional 32,043 shares during the last quarter. Legal & General Group Plc raised its holdings in EMCOR Group by 3.1% in the 1st quarter. Legal & General Group Plc now owns 64,441 shares of the construction company’s stock valued at $4,060,000 after acquiring an additional 1,920 shares during the last quarter. Vanguard Group Inc. raised its holdings in EMCOR Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 4,916,914 shares of the construction company’s stock valued at $309,520,000 after acquiring an additional 183,084 shares during the last quarter. Geode Capital Management LLC raised its holdings in EMCOR Group by 6.9% in the 1st quarter. Geode Capital Management LLC now owns 534,229 shares of the construction company’s stock valued at $33,628,000 after acquiring an additional 34,429 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in EMCOR Group in the 1st quarter valued at $1,574,000. 93.10% of the stock is currently owned by institutional investors and hedge funds.
EMCOR Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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