EMCOR Group, Inc. (NYSE:EME) Forecasted to Post Q2 2024 Earnings of $3.50 Per Share

EMCOR Group, Inc. (NYSE:EME) – Stock analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of EMCOR Group in a report released 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 currently has a “Buy” rating and a $375.00 target price on the stock. The consensus estimate for EMCOR Group’s current full-year earnings is $16.00 per share.

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

Separately, KeyCorp assumed coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company.

EMCOR Group Price Performance

EMCOR Group stock opened at $354.02 on Monday. The business has a 50 day simple moving average of $328.76 and a 200 day simple moving average of $256.25. The company has a market capitalization of $16.64 billion, a PE ratio of 23.35 and a beta of 1.10. EMCOR Group has a one year low of $161.49 and a one year high of $369.53.

Institutional Investors Weigh In On EMCOR Group

Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in EMCOR Group in the first quarter valued at about $28,000. Independence Bank of Kentucky bought a new stake in shares of EMCOR Group in the 1st quarter valued at about $33,000. Rise Advisors LLC acquired a new stake in shares of EMCOR Group in the 1st quarter valued at approximately $40,000. Northwest Investment Counselors LLC bought a new position in EMCOR Group during the 1st quarter worth approximately $40,000. Finally, Allworth Financial LP grew its holdings in EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

EMCOR Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, April 15th. EMCOR Group’s dividend payout ratio is presently 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.