EMCOR Group (NYSE:EME) Stock Price Down 3.6% – Time to Sell?

EMCOR Group, Inc. (NYSE:EME)’s share price fell 3.6% during mid-day trading on Friday . The company traded as low as $425.33 and last traded at $429.97. 92,402 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 428,274 shares. The stock had previously closed at $446.11.

Analysts Set New Price Targets

A number of research firms have weighed in on EME. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson boosted their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Price Performance

The firm has a 50-day simple moving average of $411.96 and a 200-day simple moving average of $383.61. The firm has a market capitalization of $20.00 billion, a PE ratio of 24.55 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.95 EPS. Equities analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.23%. EMCOR Group’s payout ratio is presently 5.73%.

Insider Transactions at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the sale, the director now owns 8,637 shares in the company, valued at $3,202,513.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On EMCOR Group

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in shares of EMCOR Group by 55.6% in the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after purchasing an additional 139,919 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in EMCOR Group by 155.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after buying an additional 126,148 shares during the period. Renaissance Technologies LLC increased its stake in EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after buying an additional 116,300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in EMCOR Group by 971.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after acquiring an additional 91,837 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after acquiring an additional 88,909 shares in the last quarter. 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.