EMCOR Group (NYSE:EME) Hits New 12-Month High – What’s Next?

EMCOR Group, Inc. (NYSE:EME) hit a new 52-week high during trading on Wednesday . The company traded as high as $492.45 and last traded at $491.18, with a volume of 19611 shares trading hands. The stock had previously closed at $475.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EME shares. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson upped their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Price Performance

The business has a 50 day moving average price of $427.08 and a two-hundred day moving average price of $390.62. The stock has a market cap of $23.65 billion, a PE ratio of 26.07 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.61 EPS. On average, sell-side analysts forecast that EMCOR Group, Inc. will post 20.75 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s payout ratio is 5.08%.

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently made changes to their positions in the business. Montag A & Associates Inc. bought a new stake in EMCOR Group in the first quarter valued at $1,772,000. Cetera Advisors LLC increased its position in shares of EMCOR Group by 165.3% during the first quarter. Cetera Advisors LLC now owns 6,209 shares of the construction company’s stock valued at $2,174,000 after buying an additional 3,869 shares during the period. Sei Investments Co. raised its stake in EMCOR Group by 3.8% in the first quarter. Sei Investments Co. now owns 128,492 shares of the construction company’s stock worth $44,996,000 after buying an additional 4,647 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in EMCOR Group in the first quarter worth about $209,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in EMCOR Group by 173.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company’s stock worth $23,473,000 after buying an additional 34,553 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Company Profile

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.