Emcor Group Inc. (EME) Sets New 1-Year High at $57.28
Emcor Group Inc. (NYSE:EME) shares hit a new 52-week high on Monday . The stock traded as high as $57.28 and last traded at $57.16, with a volume of 70,326 shares. The stock had previously closed at $56.78.
Several brokerages have weighed in on EME. Zacks Investment Research raised shares of Emcor Group from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Monday, August 1st. Stifel Nicolaus raised their price objective on shares of Emcor Group from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, May 2nd. DA Davidson raised shares of Emcor Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 28th. Finally, Sidoti began coverage on shares of Emcor Group in a report on Tuesday, June 21st. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $55.00.
The stock has a 50-day moving average price of $52.23 and a 200-day moving average price of $48.28. The firm has a market cap of $3.48 billion and a P/E ratio of 19.56.
Emcor Group (NYSE:EME) last posted its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.24. The business earned $1.93 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm earned $0.74 earnings per share. Emcor Group’s revenue was up 16.8% compared to the same quarter last year. Analysts anticipate that Emcor Group Inc. will post $3.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Monday, July 18th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, July 14th.
In other news, Director David A. B. Brown sold 5,851 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $55.25, for a total value of $323,267.75. Following the completion of the sale, the director now directly owns 22,076 shares in the company, valued at $1,219,699. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maxine Lum Mauricio sold 1,386 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $56.35, for a total transaction of $78,101.10. Following the completion of the sale, the senior vice president now owns 15,493 shares of the company’s stock, valued at $873,030.55. The disclosure for this sale can be found here.
Several hedge funds have recently modified their holdings of the company. Calvert Investment Management Inc. purchased a new stake in shares of Emcor Group during the fourth quarter worth $3,631,000. 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 worth $2,777,000 after buying an additional 7,912 shares during the last quarter. State of Tennessee Treasury Department purchased a new stake in shares of Emcor Group during the fourth quarter worth $2,335,000. Finally, 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 worth $111,511,000 after buying an additional 112,931 shares during 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.
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