EMCOR Group (NYSE:EME) Sets New 12-Month High on Strong Earnings

EMCOR Group, Inc. (NYSE:EME)’s stock price hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $456.76 and last traded at $449.76, with a volume of 123086 shares changing 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 net margin of 6.01% and a return on equity of 32.73%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm earned $3.61 earnings per share. EMCOR Group’s revenue was up 15.3% on a year-over-year basis.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders 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 annualized dividend and a yield of 0.22%. EMCOR Group’s payout ratio is currently 5.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EME shares. DA Davidson raised their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently bought and sold shares of the company. First Trust Direct Indexing L.P. purchased a new position in EMCOR Group in the first quarter worth $468,000. Commonwealth Equity Services LLC raised its stake in shares of EMCOR Group by 30.3% during the first 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 in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of EMCOR Group in the 1st quarter worth approximately $208,000. Blue Trust Inc. boosted its stake in shares of EMCOR Group by 25.8% in the 1st quarter. Blue Trust Inc. now owns 1,388 shares of the construction company’s stock valued at $486,000 after purchasing an additional 285 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of EMCOR Group by 92.8% during the 1st quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock valued at $35,901,000 after purchasing an additional 49,346 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Up 1.6 %

The firm has a fifty day moving average of $418.65 and a two-hundred day moving average of $386.48. The company has a market capitalization of $21.14 billion, a PE ratio of 25.95 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.