EMCOR Group (NYSE:EME) Reaches New 1-Year High Following Strong Earnings

EMCOR Group, Inc. (NYSE:EME) reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $456.76 and last traded at $449.76, with a volume of 123086 shares trading hands. The stock had previously closed at $431.77.

The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the company earned $3.61 earnings per share. EMCOR Group’s quarterly revenue was up 15.3% compared to the same quarter last year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. EMCOR Group’s dividend payout ratio is currently 5.73%.

Analyst Upgrades and Downgrades

EME has been the subject of several recent research reports. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson boosted their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Hedge Funds Weigh In On EMCOR Group

A number of institutional investors have recently modified their holdings of the company. First Trust Direct Indexing L.P. bought a new stake in shares of EMCOR Group during the 1st quarter worth $468,000. Commonwealth Equity Services LLC lifted its position in EMCOR Group by 30.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 6,174 shares of the construction company’s stock worth $2,162,000 after acquiring an additional 1,436 shares during the last quarter. Van ECK Associates Corp boosted its holdings in EMCOR Group by 36.5% during the first quarter. Van ECK Associates Corp now owns 19,055 shares of the construction company’s stock valued at $6,673,000 after acquiring an additional 5,097 shares during the period. Consolidated Portfolio Review Corp acquired a new stake in shares of EMCOR Group in the first quarter valued at about $261,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of EMCOR Group in the first quarter worth about $208,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Up 3.3 %

The firm has a 50-day moving average of $415.78 and a two-hundred day moving average of $385.33. The firm has a market cap of $20.81 billion, a price-to-earnings ratio of 25.54 and a beta of 1.07.

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.