EMCOR Group (NYSE:EME) Sets New 1-Year High at $350.43

EMCOR Group, Inc. (NYSE:EME) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $350.43 and last traded at $349.80, with a volume of 11451 shares. The stock had previously closed at $347.12.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. KeyCorp initiated coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. DA Davidson restated a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Stock Performance

The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 26.40 and a beta of 1.09. The company has a 50 day moving average price of $278.09 and a 200 day moving average price of $234.79.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.96. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the firm posted $2.63 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts forecast that EMCOR Group, Inc. will post 14.5 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, January 12th. EMCOR Group’s payout ratio is presently 5.41%.

Insider Buying and Selling

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EMCOR Group

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after purchasing an additional 62 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of EMCOR Group in the 2nd quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new stake in shares of EMCOR Group during the third quarter valued at approximately $35,000. CVA Family Office LLC bought a new stake in EMCOR Group during the fourth quarter worth $39,000. Finally, Evermay Wealth Management LLC purchased a new position in EMCOR Group in the fourth quarter worth $39,000. 92.59% of the stock is 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.