Emcor Group Inc. (EME) Reaches New 1-Year High at $56.90
Emcor Group Inc. (NYSE:EME)’s share price hit a new 52-week high on Friday . The stock traded as high as $56.90 and last traded at $56.62, with a volume of 109,511 shares changing hands. The stock had previously closed at $55.32.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded 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. Stifel Nicolaus raised their price target on Emcor Group from $54.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 2nd. DA Davidson upgraded Emcor Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 28th. Finally, Sidoti assumed coverage on Emcor Group in a report on Tuesday, June 21st. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.00.
The firm has a market capitalization of $3.44 billion and a P/E ratio of 19.31. The company has a 50 day moving average of $51.01 and a 200-day moving average of $47.80.
Emcor Group (NYSE:EME) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.24. During the same period last year, the company earned $0.74 EPS. The business earned $1.93 billion during the quarter, compared to the consensus estimate of $1.75 billion. The business’s revenue was up 16.8% compared to the same quarter last year. Analysts predict that Emcor Group Inc. will post $3.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Monday, July 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, July 14th.
In other Emcor Group news, Director Michael T. Yonker sold 10,833 shares of the company’s stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $48.58, for a total value of $526,267.14. Following the transaction, the director now owns 55,197 shares of the company’s stock, valued at approximately $2,681,470.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry E. Ryan sold 6,202 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $55.42, for a total value of $343,714.84. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of the company. State of Tennessee Treasury Department purchased a new stake in shares of Emcor Group during the fourth quarter valued at $2,335,000. Dimensional Fund Advisors LP boosted its stake in shares of Emcor Group by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,321,158 shares of the company’s stock valued at $111,511,000 after buying an additional 112,931 shares in the last quarter. Fiduciary Management Associates LLC boosted its stake in shares of Emcor Group by 40.1% in the fourth quarter. Fiduciary Management Associates LLC now owns 482,346 shares of the company’s stock valued at $23,173,000 after buying an additional 138,155 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Emcor Group by 15.9% in the fourth quarter. Suntrust Banks Inc. now owns 57,824 shares of the company’s stock valued at $2,777,000 after buying an additional 7,912 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Emcor Group by 166.2% in the fourth quarter. Bank of Montreal Can now owns 105,844 shares of the company’s stock valued at $5,084,000 after buying an additional 66,090 shares in the last quarter.
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.