The Goldman Sachs Group Initiates Coverage on EMCOR Group (NYSE:EME)

The Goldman Sachs Group initiated coverage on shares of EMCOR Group (NYSE:EME) in a research report report published on Friday, Marketbeat reports. The brokerage issued a sell rating and a $445.00 price target on the construction company’s stock.

Several other brokerages also recently commented on EME. Stifel Nicolaus assumed coverage on shares of EMCOR Group in a report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, DA Davidson boosted their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $504.85 on Friday. The firm’s 50-day simple moving average is $454.82 and its 200 day simple moving average is $401.69. The stock has a market cap of $23.22 billion, a price-to-earnings ratio of 25.64 and a beta of 1.07. EMCOR Group has a fifty-two week low of $209.31 and a fifty-two week high of $532.38.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $3.61 earnings per share. On average, sell-side analysts predict that EMCOR Group will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.20%. EMCOR Group’s payout ratio is 5.08%.

Institutional Investors Weigh In On EMCOR Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Matrix Trust Co bought a new position in EMCOR Group in the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group during the second quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in shares of EMCOR Group during the third quarter valued at about $33,000. Innealta Capital LLC purchased a new stake in shares of EMCOR Group in the second quarter worth about $29,000. Finally, ORG Partners LLC bought a new position in shares of EMCOR Group in the second quarter valued at approximately $31,000. 92.59% of the stock is currently owned by institutional investors.

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.