Stifel Nicolaus Begins Coverage on EMCOR Group (NYSE:EME)

Stifel Nicolaus assumed coverage on shares of EMCOR Group (NYSE:EME) in a report issued on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $600.00 price target on the construction company’s stock.

A number of other research analysts also recently issued reports on the company. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson lifted their price objective 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.

EMCOR Group Price Performance

Shares of EME stock opened at $500.91 on Friday. The stock has a market capitalization of $23.04 billion, a PE ratio of 25.34 and a beta of 1.07. The business’s 50 day simple moving average is $443.84 and its 200 day simple moving average is $397.93. EMCOR Group has a one year low of $209.31 and a one year high of $525.31.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm posted $3.61 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts expect that EMCOR Group will post 20.75 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is currently 5.08%.

Hedge Funds Weigh In On EMCOR Group

Large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of EMCOR Group by 1.5% in the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after purchasing an additional 24,541 shares during the last quarter. Geode Capital Management LLC raised its position in EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after buying an additional 49,137 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in EMCOR Group by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after acquiring an additional 11,479 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in EMCOR Group by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after acquiring an additional 134,575 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of EMCOR Group by 27.5% in the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after acquiring an additional 88,909 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

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.