EMCOR Group (NYSE:EME) Hits New 1-Year High on Earnings Beat

EMCOR Group, Inc. (NYSE:EME) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock 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, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm earned $3.61 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. EMCOR Group’s payout ratio is 6.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EME shares. DA Davidson increased their target price 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 raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Matrix Trust Co purchased a new position in shares of EMCOR Group in the second quarter worth $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group during the second quarter worth $27,000. Innealta Capital LLC purchased a new position in shares of EMCOR Group during the second quarter worth $29,000. ORG Partners LLC purchased a new position in shares of EMCOR Group during the second quarter worth $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of EMCOR Group during the third quarter worth $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

The company’s fifty day moving average is $415.78 and its 200-day moving average is $385.33. The stock has a market cap of $21.29 billion, a PE ratio of 28.48 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.