EMCOR Group (NYSE:EME) Sets New 52-Week High - What's Next?

EMCOR Group, Inc. (NYSE:EME - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $574.02 and last traded at $573.49, with a volume of 231714 shares traded. The stock had previously closed at $558.98.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Hovde Group raised shares of EMCOR Group to a "hold" rating in a research note on Friday, June 27th. Stifel Nicolaus boosted their target price on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a report on Friday, July 11th. The Goldman Sachs Group boosted their price target on EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a research note on Tuesday, July 8th. UBS Group initiated coverage on EMCOR Group in a research note on Friday, June 13th. They set a "buy" rating and a $570.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $532.00.

EMCOR Group Trading Up 0.6%

The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $505.57 and a 200 day simple moving average of $450.03. The firm has a market cap of $25.82 billion, a PE ratio of 25.47 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping the consensus estimate of $4.57 by $0.84. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.17 EPS. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, July 15th. EMCOR Group's payout ratio is 4.42%.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the transaction, the director directly owned 7,094 shares of the company's stock, valued at $2,928,616.02. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the transaction, the chief executive officer directly owned 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EME. Quantbot Technologies LP acquired a new position in EMCOR Group in the 4th quarter valued at $1,192,000. LPL Financial LLC raised its stake in EMCOR Group by 42.5% in the 4th quarter. LPL Financial LLC now owns 45,224 shares of the construction company's stock valued at $20,527,000 after purchasing an additional 13,485 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in EMCOR Group in the 4th quarter valued at $309,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of EMCOR Group in the 4th quarter worth $726,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of EMCOR Group by 7.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,780 shares of the construction company's stock worth $16,000,000 after acquiring an additional 2,454 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.

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