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 firm’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 filing with the Securities & Exchange Commission, which is available at the SEC website.
EMCOR Group, Inc. (NYSE EME) traded down 0.05% during trading on Monday, reaching $79.34. The company’s stock had a trading volume of 719,436 shares. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 23.78 and a beta of 0.89. The firm has a 50 day moving average price of $69.69 and a 200-day moving average price of $66.18. EMCOR Group, Inc. has a 52-week low of $59.20 and a 52-week high of $80.64.
EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.93 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, analysts expect that EMCOR Group, Inc. will post $3.72 earnings per share for the current year.
EMCOR Group announced that its board has approved a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Tuesday, October 17th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, October 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. EMCOR Group’s dividend payout ratio (DPR) is presently 8.94%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of EMCOR Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,982,822 shares of the construction company’s stock valued at $325,777,000 after buying an additional 65,908 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of EMCOR Group by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,202,317 shares of the construction company’s stock valued at $152,797,000 after buying an additional 82,349 shares during the last quarter. State Street Corp grew its position in shares of EMCOR Group by 2.5% in the 2nd quarter. State Street Corp now owns 2,059,368 shares of the construction company’s stock valued at $134,642,000 after buying an additional 50,588 shares during the last quarter. Northern Trust Corp grew its position in shares of EMCOR Group by 2.1% in the 2nd quarter. Northern Trust Corp now owns 1,611,590 shares of the construction company’s stock valued at $105,366,000 after buying an additional 33,361 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of EMCOR Group by 0.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,368,615 shares of the construction company’s stock valued at $89,480,000 after buying an additional 3,977 shares during the last quarter. Hedge funds and other institutional investors own 93.10% of the company’s stock.
Several equities analysts recently issued reports on EME shares. BidaskClub cut EMCOR Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research cut EMCOR Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. KeyCorp reiterated a “hold” rating on shares of EMCOR Group in a report on Friday, August 25th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of EMCOR Group in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. EMCOR Group presently has a consensus rating of “Hold” and an average price target of $72.33.
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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