EMCOR Group (NYSE:EME) Coverage Initiated at Robert W. Baird

Robert W. Baird began coverage on shares of EMCOR Group (NYSE:EME) in a research note issued to investors on Friday, MarketBeat reports. The brokerage issued an outperform rating and a $560.00 price target on the construction company’s stock.

Several other research firms have also weighed in on EME. UBS Group started coverage on EMCOR Group in a research note on Friday, June 13th. They issued a “buy” rating and a $570.00 price objective on the stock. Stifel Nicolaus reduced their price objective on EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $518.00.

EMCOR Group Stock Performance

EME opened at $530.90 on Friday. The firm has a market cap of $23.76 billion, a P/E ratio of 23.46 and a beta of 1.23. EMCOR Group has a 52-week low of $319.49 and a 52-week high of $545.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.14 and a current ratio of 1.16. The business’s fifty day moving average is $455.61 and its 200-day moving average is $439.19.

EMCOR Group (NYSE:EME) last released its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.57 by $0.84. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. EMCOR Group’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.17 EPS. Sell-side analysts expect that EMCOR Group will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.19%. EMCOR Group’s dividend payout ratio is presently 4.42%.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the transaction, the chief executive officer now directly owns 208,989 shares in the company, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the transaction, the director now owns 7,094 shares of the company’s stock, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in shares of EMCOR Group by 20.8% during the first quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company’s stock worth $7,317,000 after acquiring an additional 3,407 shares during the last quarter. Redwood Investment Management LLC bought a new position in shares of EMCOR Group during the fourth quarter worth about $1,417,000. Fifth Third Bancorp raised its position in shares of EMCOR Group by 17.5% during the first quarter. Fifth Third Bancorp now owns 844 shares of the construction company’s stock worth $312,000 after acquiring an additional 126 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of EMCOR Group during the fourth quarter worth about $1,192,000. Finally, CX Institutional bought a new position in shares of EMCOR Group during the first quarter worth about $95,000. 92.59% of the stock is currently owned by institutional investors.

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.