EMCOR Group, Inc. (NYSE:EME) Short Interest Update

EMCOR Group, Inc. (NYSE:EME) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 817,200 shares, an increase of 50.1% from the May 31st total of 544,400 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 500,700 shares, the days-to-cover ratio is currently 1.6 days.

EMCOR Group Trading Down 1.4 %

Shares of EME opened at $365.08 on Monday. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 24.08 and a beta of 1.06. EMCOR Group has a 1-year low of $178.52 and a 1-year high of $401.98. The company’s fifty day simple moving average is $375.31 and its 200 day simple moving average is $310.10.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, topping 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 business had revenue of $3.43 billion for the quarter. As a group, research analysts forecast that EMCOR Group will post 16.1 earnings per share for the current year.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were issued a $0.25 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Monday, April 15th. EMCOR Group’s payout ratio is currently 6.60%.

Analyst Ratings Changes

Separately, DA Davidson reissued a “buy” rating and issued a $375.00 price objective on shares of EMCOR Group in a research report on Friday, March 22nd.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, Director Carol P. Lowe sold 1,245 shares of EMCOR Group stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $374.23, for a total value of $465,916.35. Following the transaction, the director now owns 16,807 shares of the company’s stock, valued at $6,289,683.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On EMCOR Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of EMCOR Group in the first quarter valued at about $28,000. Allworth Financial LP grew its stake in shares of EMCOR Group by 83.8% in the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after acquiring an additional 62 shares in the last quarter. Independence Bank of Kentucky acquired a new position in shares of EMCOR Group in the first quarter valued at about $33,000. CVA Family Office LLC acquired a new position in shares of EMCOR Group in the fourth quarter valued at about $39,000. Finally, Evermay Wealth Management LLC acquired a new position in shares of EMCOR Group in the fourth quarter valued at about $39,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.