EMCOR Group, Inc. (NYSE: EME) to Issue Quarterly Dividend of $ 0.13
EMCOR Group, Inc. (NYSE: EME) declared a quarterly dividend on Tuesday, October 5, reports the Wall Street Journal. Shareholders of record on Friday October 15 will receive a dividend of 0.13 per share from the construction company on Friday October 29. This represents a dividend of $ 0.52 on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, October 14.
The EMCOR group has a payout ratio of 6.6%, which means that its dividend is sufficiently covered by the results. Stock analysts expect the EMCOR group to earn $ 7.47 per share next year, which means the company should continue to be able to cover its annual dividend of $ 0.47 with a rate of expected future distribution of 6.3%.
NYSE: EME shares traded down $ 0.70 in the midday session Tuesday, reaching $ 119.06. The company had a trading volume of 3,250 shares, compared to its average volume of 252,002. The company has a leverage ratio of 0.12, a current ratio of 1.45 and a rapid ratio of 1.42 . The stock has a market cap of $ 6.40 billion, a P / E ratio of 20.37 and a beta of 1.22. EMCOR Group has a one-year minimum of $ 63.69 and a one-year maximum of $ 129.45. The stock’s fifty-day moving average price is $ 119.39 and its 200-day moving average price is $ 120.19.
EMCOR Group (NYSE: EME) last reported its results on Thursday, July 29. The construction company reported earnings per share of $ 1.78 for the quarter, beating the consensus estimate of $ 1.58 by $ 0.20. The EMCOR group posted a return on equity of 18.46% and a net margin of 3.50%. The company posted revenue of $ 2.44 billion in the quarter, compared to a consensus estimate of $ 2.28 billion. As a group, sell-side analysts predict that the EMCOR group will post 7 earnings per share for the current year.
In related news, CEO Anthony Guzzi sold 13,247 shares of the company in a transaction that took place on Wednesday, September 15. The stock was sold for an average price of $ 118.04, for a total trade of $ 1,563,675.88. The sale was disclosed in a legal file with the SEC, which is available at this link. Insiders own 1.70% of the shares of the company.
An institutional investor recently increased its position in EMCOR Group shares. Morgan Stanley raised its stake in shares of EMCOR Group, Inc. (NYSE: EME) by 85.1% in the second quarter, according to its latest filing with the SEC. The fund held 144,414 shares of the construction company after acquiring an additional 66,393 shares during the period. Morgan Stanley owned about 0.27% of the EMCOR group for a value of $ 17,790,000 at the time of its last filing with the SEC. Institutional investors and hedge funds hold 93.66% of the company’s shares.
Several analysts have published reports on the title. Zacks Investment Research downgraded EMCOR Group shares from a “buy” rating to a “hold” rating and set a price target of $ 126.00 for the company. in a research report on Monday August 23. DA Davidson raised its price target for EMCOR Group shares from $ 115 to $ 125 and rated the stock “neutral” in a research note on Friday, July 30. They noted that the move was an appraisal call.
EMCOR Group Company Profile
EMCOR Group, Inc is engaged in the provision of construction services and electrical and mechanical installations. It operates through the following segments: Construction and Electrical Services in the United States; Mechanical engineering and plant services in the United States; United States construction services; United States Industrial Services; and UK Construction Services.
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