EMCOR Group (NYSE:EME) Trading Down 3.6% – What’s Next?

EMCOR Group, Inc. (NYSE:EME)’s share price dropped 3.6% during mid-day trading on Friday . The stock traded as low as $425.33 and last traded at $429.97. Approximately 92,402 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 428,274 shares. The stock had previously closed at $446.11.

Wall Street Analysts Forecast Growth

EME has been the topic of several research reports. DA Davidson upped their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

EMCOR Group Trading Down 4.2 %

The business’s 50-day simple moving average is $410.72 and its 200-day simple moving average is $382.92. The company has a market cap of $20.09 billion, a PE ratio of 29.42 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 earnings per share. On average, research analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

Insider Buying and Selling

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the sale, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently modified their holdings of the stock. Burgundy Asset Management Ltd. increased its position in shares of EMCOR Group by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after purchasing an additional 11,479 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after acquiring an additional 134,575 shares during the last quarter. AQR Capital Management LLC grew its position in EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after acquiring an additional 88,909 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of EMCOR Group by 4.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock worth $152,427,000 after purchasing an additional 14,447 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.