EMCOR Group (NYSE:EME) Hits New 52-Week High - Here's Why

EMCOR Group, Inc. (NYSE:EME - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $454.62 and last traded at $452.41, with a volume of 12090 shares changing hands. The stock had previously closed at $450.45.

Analyst Upgrades and Downgrades

EME has been the subject of a number of recent analyst reports. DA Davidson increased their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a "buy" rating in a research note on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 9th.

EMCOR Group Price Performance

The business's 50-day moving average is $393.89 and its 200 day moving average is $377.40. The firm has a market capitalization of $21.27 billion, a P/E ratio of 29.71 and a beta of 1.07.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $1.49. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 earnings per share. Analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.22%. The ex-dividend date is Tuesday, October 15th. EMCOR Group's dividend payout ratio is currently 6.60%.

Insider Transactions at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the transaction, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EMCOR Group

Several hedge funds and other institutional investors have recently made changes to their positions in EME. Creative Planning raised its holdings in EMCOR Group by 5.3% in the 3rd quarter. Creative Planning now owns 9,939 shares of the construction company's stock valued at $4,279,000 after buying an additional 504 shares during the last quarter. ORG Wealth Partners LLC bought a new position in EMCOR Group during the 3rd quarter worth $33,000. Oliver Luxxe Assets LLC increased its stake in shares of EMCOR Group by 256.5% in the third quarter. Oliver Luxxe Assets LLC now owns 4,742 shares of the construction company's stock valued at $2,042,000 after buying an additional 3,412 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in shares of EMCOR Group during the third quarter worth about $502,000. Finally, Exchange Traded Concepts LLC boosted its holdings in EMCOR Group by 104.9% in the third quarter. Exchange Traded Concepts LLC now owns 1,127 shares of the construction company's stock valued at $485,000 after acquiring an additional 577 shares during the last quarter. 92.59% of the stock is 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.