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 given a dividend of 0.08 per share by the construction company on Tuesday, January 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Friday, January 12th.
Emcor Group has a payout ratio of 8.4% meaning its dividend is sufficiently covered by earnings. Equities 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%.
Emcor Group (EME) opened at $81.83 on Thursday. The company has a market cap of $4,820.00, a PE ratio of 22.60, a PEG ratio of 1.37 and a beta of 1.02. Emcor Group has a 1-year low of $59.76 and a 1-year high of $84.73. 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 has approved a share repurchase program on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the construction company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In related news, Director Jerry E. Ryan sold 13,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William P. Reid sold 4,647 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $82.90, for a total transaction of $385,236.30. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
EME has been the subject of a number of 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 reaffirmed a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price objective (up from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $83.33.
About Emcor Group
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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