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

EMCOR Group, Inc. (NYSE:EME) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for EMCOR Group in a research note issued on Friday, April 26th. DA Davidson analyst B. Thielman anticipates that the construction company will earn $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.

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

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

EMCOR Group Price Performance

NYSE EME opened at $363.83 on Monday. The firm’s 50-day moving average is $330.98 and its two-hundred day moving average is $257.35. EMCOR Group has a 12 month low of $161.49 and a 12 month high of $369.53. The stock has a market capitalization of $17.10 billion, a P/E ratio of 24.00 and a beta of 1.10.

Institutional Trading of EMCOR Group

Large investors have recently made changes to their positions in the company. AE Wealth Management LLC purchased a new position in EMCOR Group in the third quarter valued at approximately $295,000. Exchange Traded Concepts LLC increased its stake in EMCOR Group by 93.2% in the third quarter. Exchange Traded Concepts LLC now owns 2,003 shares of the construction company’s stock valued at $421,000 after purchasing an additional 966 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in EMCOR Group by 4.5% in the third quarter. Commonwealth Equity Services LLC now owns 4,795 shares of the construction company’s stock valued at $1,009,000 after purchasing an additional 206 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in EMCOR Group by 55.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,402 shares of the construction company’s stock valued at $505,000 after purchasing an additional 852 shares during the last quarter. Finally, Arlington Trust Co LLC purchased a new position in EMCOR Group in the third quarter valued at approximately $35,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EMCOR Group 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders 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 positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. EMCOR Group’s dividend payout ratio 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.