The Goldman Sachs Group Initiates Coverage on EMCOR Group (NYSE:EME)

The Goldman Sachs Group started coverage on shares of EMCOR Group (NYSE:EME) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage issued a sell rating and a $445.00 target price on the construction company’s stock.

Several other research analysts have also recently weighed in on EME. Stifel Nicolaus assumed coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price target on the stock. DA Davidson upped their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $518.75.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $504.92 on Friday. EMCOR Group has a 1 year low of $209.31 and a 1 year high of $532.38. The company’s fifty day moving average price is $457.00 and its 200 day moving average price is $402.81. The company has a market capitalization of $23.23 billion, a PE ratio of 25.64 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its quarterly earnings results 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. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $3.61 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts expect that EMCOR Group will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Hedge Funds Weigh In On EMCOR Group

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

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.