The Goldman Sachs Group Initiates Coverage on EMCOR Group (NYSE:EME)

The Goldman Sachs Group assumed coverage on shares of EMCOR Group (NYSE:EME) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a sell rating and a $445.00 target price on the construction company’s stock.

Several other analysts also recently issued reports on EME. Stifel Nicolaus started coverage on EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 price target on the stock. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, DA Davidson upped their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and a consensus target price of $518.75.

EMCOR Group Price Performance

NYSE:EME opened at $510.91 on Friday. The business’s 50-day simple moving average is $457.00 and its 200-day simple moving average is $402.97. EMCOR Group has a fifty-two week low of $209.31 and a fifty-two week high of $532.38. The stock has a market capitalization of $23.50 billion, a PE ratio of 25.83 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share 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 firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $3.61 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, research analysts expect that EMCOR Group will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

Institutional Investors Weigh In On EMCOR Group

Several large investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB raised its holdings in shares of EMCOR Group by 46.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 951 shares of the construction company’s stock valued at $409,000 after purchasing an additional 301 shares during the period. World Investment Advisors LLC acquired a new position in EMCOR Group during the third quarter worth approximately $238,000. Fulcrum Equity Management bought a new stake in EMCOR Group in the third quarter valued at approximately $205,000. SkyView Investment Advisors LLC lifted its position in shares of EMCOR Group by 0.9% in the third quarter. SkyView Investment Advisors LLC now owns 7,533 shares of the construction company’s stock valued at $3,243,000 after buying an additional 68 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of EMCOR Group during the 3rd quarter worth approximately $204,000. Institutional investors and hedge funds 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.