Emcor Group (NYSE:EME) Hits New 52-Week High at $85.32

Emcor Group Inc (NYSE:EME) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $85.32 and last traded at $85.22, with a volume of 3329 shares. The stock had previously closed at $84.65.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Emcor Group from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research note on Thursday, May 2nd. Maxim Group set a $73.00 target price on shares of Emcor Group and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, ValuEngine raised shares of Emcor Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th.

The company has a current ratio of 1.38, a quick ratio of 1.36 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 1.01 and a beta of 1.18.

Emcor Group (NYSE:EME) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.23. Emcor Group had a net margin of 3.58% and a return on equity of 17.18%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts forecast that Emcor Group Inc will post 5.45 earnings per share for the current fiscal year.

In other Emcor Group news, Chairman Anthony Guzzi sold 7,232 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.06, for a total transaction of $542,833.92. Following the transaction, the chairman now owns 402,455 shares in the company, valued at $30,208,272.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark A. Pompa sold 12,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,546 shares of company stock worth $3,239,188. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Emcor Group by 1.7% in the fourth quarter. BlackRock Inc. now owns 6,848,177 shares of the construction company’s stock valued at $408,769,000 after purchasing an additional 117,137 shares during the last quarter. Vanguard Group Inc raised its holdings in shares of Emcor Group by 1.0% in the third quarter. Vanguard Group Inc now owns 5,531,946 shares of the construction company’s stock valued at $415,505,000 after purchasing an additional 53,572 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Emcor Group by 2.3% in the fourth quarter. Prudential Financial Inc. now owns 1,250,340 shares of the construction company’s stock valued at $74,632,000 after purchasing an additional 27,522 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Emcor Group by 1.5% in the first quarter. Northern Trust Corp now owns 1,037,030 shares of the construction company’s stock valued at $75,786,000 after purchasing an additional 15,314 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Emcor Group by 18.1% in the first quarter. Wells Fargo & Company MN now owns 994,518 shares of the construction company’s stock valued at $72,679,000 after purchasing an additional 152,580 shares during the last quarter. Institutional investors own 93.96% of the company’s stock.

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About Emcor Group (NYSE:EME)

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services in the United States. The company designs, integrates, installs, starts-up, operates, and maintains electric power transmission and distribution systems; premises electrical and lighting systems; process instrumentation in the refining, chemical and food processing, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, controls and filtration, central plant heating and cooling, plumbing, process, and piping systems; roadway and transit lighting, and fiber-optic lines; and heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems, as well as offers crane, rigging, and millwright; and steel fabrication, erection, and welding services.

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