Emcor Group Inc (NYSE:EME) declared a quarterly dividend on Friday, January 5th, RTT News reports. Stockholders of record on Tuesday, January 16th will be paid a dividend of 0.08 per share by the construction company on Tuesday, January 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.39%.
Emcor Group has a payout ratio of 8.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Emcor Group to earn $4.03 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.9%.
Shares of Emcor Group (EME) traded down $0.98 on Friday, hitting $82.98. 269,800 shares of the stock traded hands, compared to its average volume of 496,933. Emcor Group has a 52 week low of $59.76 and a 52 week high of $84.73. The firm has a market capitalization of $4,938.01, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.
Emcor Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the construction company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
EME has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. ValuEngine downgraded shares of Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. KeyCorp reissued a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $88.00 price target (up previously from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Emcor Group currently has a consensus rating of “Hold” and a consensus price target of $83.33.
In related news, Director William P. Reid sold 4,647 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total value of $385,236.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry E. Ryan sold 13,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $78.06, for a total transaction of $1,014,780.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
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Emcor Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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