EMCOR Group (NYSE:EME) Reaches New 52-Week High - Should You Buy?

EMCOR Group, Inc. (NYSE:EME - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $545.30 and last traded at $535.70, with a volume of 383142 shares. The stock had previously closed at $527.16.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EME. The Goldman Sachs Group started coverage on EMCOR Group in a research note on Friday, November 22nd. They set a "sell" rating and a $445.00 price objective for the company. Northcoast Research began coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a "buy" rating and a $600.00 price objective on the stock. Stifel Nicolaus began coverage on shares of EMCOR Group in a research note on Friday, November 15th. They set a "buy" rating and a $600.00 target price for the company. Finally, StockNews.com upgraded shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $518.75.

EMCOR Group Price Performance

The firm's fifty day moving average is $488.87 and its two-hundred day moving average is $434.64. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 27.00 and a beta of 1.12.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter in the previous year, the company earned $3.61 earnings per share. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date is Thursday, January 16th. EMCOR Group's dividend payout ratio is presently 5.08%.

Institutional Investors Weigh In On EMCOR Group

Hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new stake in EMCOR Group during the 3rd quarter worth about $33,000. Anchor Investment Management LLC raised its position in EMCOR Group by 89.3% during the second quarter. Anchor Investment Management LLC now owns 106 shares of the construction company's stock valued at $39,000 after buying an additional 50 shares during the period. True Wealth Design LLC lifted its stake in EMCOR Group by 3,466.7% in the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company's stock worth $46,000 after acquiring an additional 104 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in EMCOR Group during the 3rd quarter worth about $49,000. Finally, SJS Investment Consulting Inc. grew its stake in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other 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.