DA Davidson Weighs in on EMCOR Group, Inc.’s Q2 2024 Earnings (NYSE:EME)

EMCOR Group, Inc. (NYSE:EME) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of EMCOR Group in a research report issued on Friday, April 26th. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings of $3.50 per share for the quarter. DA Davidson has a “Buy” rating and a $375.00 price objective on the stock. The consensus estimate for EMCOR Group’s current full-year earnings is $16.00 per share.

Separately, KeyCorp initiated coverage on shares of EMCOR Group in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock.

EMCOR Group Price Performance

EME opened at $354.02 on Monday. 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 firm’s fifty day moving average price is $328.76 and its 200 day moving average price is $256.25.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, topping the consensus estimate of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The business had revenue of $3.43 billion for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in EMCOR Group by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock worth $84,000 after purchasing an additional 35 shares during the last quarter. Modus Advisors LLC grew its holdings in EMCOR Group by 2.0% in the 4th quarter. Modus Advisors LLC now owns 2,503 shares of the construction company’s stock worth $539,000 after buying an additional 49 shares in the last quarter. Daiwa Securities Group Inc. increased its position in EMCOR Group by 0.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,150 shares of the construction company’s stock valued at $3,049,000 after acquiring an additional 50 shares during the period. Lindbrook Capital LLC raised its stake in EMCOR Group by 32.5% during the 4th quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock valued at $45,000 after acquiring an additional 51 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in EMCOR Group by 1.0% during the 3rd quarter. Synovus Financial Corp now owns 6,072 shares of the construction company’s stock worth $1,277,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

EMCOR Group Increases Dividend

The company 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 15th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.28%. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

About EMCOR Group

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.