EMCOR Group (NYSE:EME) Shares Down 3.4% – Should You Sell?

Shares of EMCOR Group, Inc. (NYSE:EME) fell 3.4% during trading on Friday . The company traded as low as $506.15 and last traded at $508.84. 94,590 shares changed hands during trading, a decline of 78% from the average session volume of 433,296 shares. The stock had previously closed at $526.95.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EME shares. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson upped their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. Northcoast Research assumed coverage on shares of EMCOR Group in a report on Friday. They set a “buy” rating and a $600.00 price target for the company. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a report on Friday. They set a “sell” rating and a $445.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Stock Performance

The company has a market cap of $23.20 billion, a price-to-earnings ratio of 25.90 and a beta of 1.07. The company’s 50 day moving average price is $454.82 and its 200 day moving average price is $401.69.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 31st. 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 net margin of 6.51% and a return on equity of 34.99%. The business 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. EMCOR Group’s revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a $0.25 dividend. 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 dividend payout ratio (DPR) is currently 5.08%.

Institutional Investors Weigh In On EMCOR Group

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after acquiring an additional 24,541 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after acquiring an additional 49,137 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of EMCOR Group by 34.4% in 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 in the last quarter. AQR Capital Management LLC boosted its holdings 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. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of EMCOR Group by 4.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock worth $152,427,000 after acquiring an additional 14,447 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.