EMCOR Group (NYSE:EME) Hits New 52-Week High – Still a Buy?

EMCOR Group, Inc. (NYSE:EME)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $528.40 and last traded at $528.40, with a volume of 31653 shares trading hands. The stock had previously closed at $515.82.

Analyst Ratings Changes

Several brokerages have recently commented on EME. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research report on Friday. They set a “sell” rating and a $445.00 price objective for the company. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus began coverage on shares of EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 target price on the stock. Finally, Northcoast Research started coverage on EMCOR Group in a research report on Friday. They set a “buy” rating and a $600.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.75.

EMCOR Group Stock Down 4.2 %

The firm has a market cap of $23.22 billion, a PE ratio of 25.90 and a beta of 1.07. The stock’s fifty day simple moving average is $454.82 and its two-hundred day simple moving average is $401.69.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.82. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.61 EPS. On average, equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. EMCOR Group’s dividend payout ratio is 5.08%.

Hedge Funds Weigh In On EMCOR Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Matrix Trust Co bought a new position in shares of EMCOR Group in the 2nd quarter worth $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group in the second quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in shares of EMCOR Group during the third quarter worth $33,000. Innealta Capital LLC purchased a new stake in EMCOR Group during the 2nd quarter valued at about $29,000. Finally, ORG Partners LLC purchased a new position in EMCOR Group during the 2nd quarter worth approximately $31,000. Institutional investors own 92.59% of the company’s stock.

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.