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

Shares of EMCOR Group, Inc. (NYSE:EME) 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 changing hands. The stock had previously closed at $515.82.

Analysts Set New Price Targets

Several research firms have weighed in 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 on the stock. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. DA Davidson raised their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Northcoast Research initiated coverage on EMCOR Group in a research report on Friday. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Stifel Nicolaus began coverage on EMCOR Group in a report on Friday, November 15th. They issued a “buy” rating and a $600.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Trading Down 4.2 %

The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 25.90 and a beta of 1.07. The stock has a fifty day moving average of $454.82 and a two-hundred day moving average of $401.69.

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

EMCOR Group Dividend Announcement

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

Hedge Funds Weigh In On EMCOR Group

A number of institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in EMCOR Group by 1.5% during the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after buying an additional 24,541 shares during the period. Geode Capital Management LLC boosted 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 in the last quarter. Acadian Asset Management LLC grew its holdings in shares of EMCOR Group by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after purchasing an additional 134,575 shares during the last quarter. AQR Capital Management LLC increased its position in EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after purchasing an additional 88,909 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in EMCOR Group by 4.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after purchasing an additional 14,447 shares during the last quarter. Institutional investors and hedge funds 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.