Emcor Group Inc. (EME) Reaches New 52-Week High at $57.61
Shares of Emcor Group Inc. (NYSE:EME) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.61 and last traded at $57.32, with a volume of 196,036 shares traded. The stock had previously closed at $57.14.
A number of brokerages have issued reports on EME. Stifel Nicolaus boosted their price target on shares of Emcor Group from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, May 2nd. Zacks Investment Research raised Emcor Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Monday, August 1st. Sidoti initiated coverage on Emcor Group in a report on Tuesday, June 21st. They issued a “buy” rating for the company. FBR & Co upped their price target on Emcor Group from $52.00 to $62.00 and gave the company a “mkt perform” rating in a report on Tuesday, August 16th. Finally, DA Davidson raised Emcor Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 28th. Four investment analysts have rated the stock with a buy rating, Emcor Group currently has an average rating of “Buy” and an average price target of $57.00.
The stock has a market capitalization of $3.48 billion and a price-to-earnings ratio of 19.53. The firm’s 50 day moving average is $54.14 and its 200-day moving average is $49.03.
Emcor Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.24. During the same quarter last year, the business earned $0.74 earnings per share. The firm earned $1.93 billion during the quarter, compared to analysts’ expectations of $1.75 billion. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, analysts predict that Emcor Group Inc. will post $3.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Monday, July 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%.
In related news, SVP Maxine Lum Mauricio sold 1,386 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $56.35, for a total transaction of $78,101.10. Following the sale, the senior vice president now directly owns 15,493 shares in the company, valued at approximately $873,030.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David A. B. Brown sold 5,851 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $55.25, for a total value of $323,267.75. Following the sale, the director now owns 22,076 shares in the company, valued at $1,219,699. The disclosure for this sale can be found here.
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides a number of building services and industrial services. The Company’s segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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