EMCOR Group (NYSE:EME) Posts Quarterly Earnings Results, Beats Expectations By $1.25 EPS

EMCOR Group (NYSE:EME) announced its quarterly earnings data on Thursday. The construction company reported $4.17 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25, reports. The firm had revenue of $3.43 billion for the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. EMCOR Group updated its FY 2024 guidance to 15.500-16.500 EPS and its FY24 guidance to $15.50-16.50 EPS.

EMCOR Group Stock Up 1.3 %

NYSE EME opened at $353.96 on Friday. The stock has a market capitalization of $16.64 billion, a PE ratio of 23.35 and a beta of 1.10. EMCOR Group has a 12-month low of $161.49 and a 12-month high of $369.53. The company has a 50 day moving average price of $328.76 and a two-hundred day moving average price of $255.59.

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a 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’s dividend payout ratio (DPR) is presently 6.60%.

Insider Transactions at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of the company’s 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 directly owns 219,023 shares in the company, valued at $70,010,701.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in EMCOR Group during the first quarter valued at approximately $28,000. Allworth Financial LP boosted its holdings in shares of EMCOR Group by 83.8% during the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after buying an additional 62 shares during the period. Independence Bank of Kentucky acquired a new position in EMCOR Group in the 1st quarter valued at $33,000. Arlington Trust Co LLC bought a new position in EMCOR Group in the 3rd quarter worth $35,000. Finally, CVA Family Office LLC acquired a new position in EMCOR Group during the 4th quarter worth $39,000. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EME shares. DA Davidson reissued a “buy” rating and set a $375.00 target price on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp initiated coverage on EMCOR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company.

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.