EMCOR Group (NYSE:EME) Sets New 12-Month High – Still a Buy?

EMCOR Group, Inc. (NYSE:EME)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $492.45 and last traded at $491.18, with a volume of 19611 shares changing hands. The stock had previously closed at $475.78.

Analysts Set New Price Targets

Several research analysts have commented 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 report on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

EMCOR Group Price Performance

The business has a fifty day moving average of $422.24 and a 200-day moving average of $389.03. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 24.18 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.61 EPS. As a group, research analysts anticipate that EMCOR Group, Inc. will post 20.75 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Matrix Trust Co purchased a new position in EMCOR Group during the second quarter valued at approximately $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group during the 2nd quarter valued at $27,000. ORG Wealth Partners LLC acquired a new position in shares of EMCOR Group in the third quarter worth $33,000. Innealta Capital LLC acquired a new stake in EMCOR Group during the second quarter valued at $29,000. Finally, ORG Partners LLC purchased a new position in EMCOR Group in the second quarter valued at about $31,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.