EMCOR Group (NYSE:EME) Reaches New 1-Year High Following Earnings Beat

EMCOR Group, Inc. (NYSE:EME - Get Free Report)'s stock price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $456.76 and last traded at $449.76, with a volume of 123086 shares changing hands. The stock had previously closed at $431.77.

The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.98 by $0.82. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted $3.61 EPS. EMCOR Group's revenue for the quarter was up 15.3% compared to the same quarter last year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders 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 0.22%. EMCOR Group's payout ratio is 5.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson boosted their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a "buy" rating in a report on Friday, July 26th. StockNews.com upgraded shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Matrix Trust Co purchased a new position in EMCOR Group in the second quarter worth about $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group in the 2nd quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new position in shares of EMCOR Group during the 3rd quarter valued at approximately $33,000. Innealta Capital LLC purchased a new stake in EMCOR Group during the 2nd quarter valued at $29,000. Finally, ORG Partners LLC bought a new stake in EMCOR Group in the second quarter worth $31,000. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Price Performance

The business has a 50-day moving average of $415.78 and a 200-day moving average of $385.33. The company has a market capitalization of $20.81 billion, a P/E ratio of 25.50 and a beta of 1.07.

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.