EMCOR Group, Inc. (NYSE:EME) Receives $518.75 Consensus Target Price from Analysts

Shares of EMCOR Group, Inc. (NYSE:EME) have received a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $518.75.

EME has been the subject of several recent analyst reports. Stifel Nicolaus assumed coverage on EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. The Goldman Sachs Group started coverage on EMCOR Group in a research note on Friday, November 22nd. They issued 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 research note on Wednesday, October 9th. Finally, Northcoast Research initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company.

Institutional Investors Weigh In On EMCOR Group

Several institutional investors have recently made changes to their positions in EME. State Street Corp raised its position in EMCOR Group by 1.5% during the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after acquiring an additional 24,541 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after purchasing an additional 49,137 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares in the last quarter. AQR Capital Management LLC increased its position in EMCOR Group by 27.5% during the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after buying an additional 88,909 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in EMCOR Group by 4.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after buying an additional 14,447 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Trading Down 1.3 %

NYSE EME opened at $507.95 on Friday. EMCOR Group has a 1 year low of $209.31 and a 1 year high of $532.38. The company has a market cap of $23.37 billion, a PE ratio of 25.80 and a beta of 1.07. The stock’s 50-day moving average price is $464.81 and its two-hundred day moving average price is $406.25.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business earned $3.61 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. Research analysts forecast that EMCOR Group will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

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

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.