EMCOR Group (NYSE:EME) Sets New 12-Month High – Still a Buy?

EMCOR Group, Inc. (NYSE:EME)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $528.40 and last traded at $528.40, with a volume of 31653 shares changing hands. The stock had previously closed at $515.82.

Wall Street Analysts Forecast Growth

EME has been the subject of a number of research analyst reports. DA Davidson raised their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus assumed coverage on EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 price target on the stock. Finally, StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

EMCOR Group Stock Performance

The firm has a market cap of $24.40 billion, a price-to-earnings ratio of 26.20 and a beta of 1.07. The firm has a 50-day moving average price of $452.05 and a two-hundred day moving average price of $400.82.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.82. The business 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 business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $3.61 EPS. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is 5.08%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Caprock Group LLC increased its position in EMCOR Group by 0.4% during the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock worth $2,513,000 after buying an additional 22 shares during the period. First Horizon Advisors Inc. increased its position in EMCOR Group by 13.0% during the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after buying an additional 27 shares during the period. Cassaday & Co Wealth Management LLC grew its stake in shares of EMCOR Group by 3.8% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock valued at $357,000 after purchasing an additional 30 shares during the last quarter. Mount Lucas Management LP grew its stake in shares of EMCOR Group by 2.5% in the 3rd quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock valued at $598,000 after purchasing an additional 34 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of EMCOR Group by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About EMCOR Group

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.