EMCOR Group (NYSE:EME) Shares Down 4.5% – Here’s What Happened

EMCOR Group, Inc. (NYSE:EME) dropped 4.5% during trading on Monday . The company traded as low as $480.00 and last traded at $486.25. Approximately 83,659 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 431,528 shares. The stock had previously closed at $509.03.

Analysts Set New Price Targets

Several analysts recently commented on the company. Northcoast Research began coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. The Goldman Sachs Group started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, 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 objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Trading Down 5.5 %

The company has a market cap of $22.14 billion, a P/E ratio of 25.85 and a beta of 1.09. The stock’s 50-day moving average price is $474.16 and its 200-day moving average price is $412.08.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating the consensus estimate of $4.98 by $0.82. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $3.61 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a $0.25 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. EMCOR Group’s dividend payout ratio is presently 5.08%.

Institutional Trading of EMCOR Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Cumberland Partners Ltd lifted its stake in EMCOR Group by 60.0% during the 3rd quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock valued at $1,722,000 after acquiring an additional 1,500 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in EMCOR Group by 173.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company’s stock valued at $23,473,000 after buying an additional 34,553 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of EMCOR Group by 25.0% during the 3rd quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock worth $2,261,000 after buying an additional 1,049 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of EMCOR Group by 46.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,066 shares of the construction company’s stock worth $28,874,000 after buying an additional 21,385 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC bought a new position in shares of EMCOR Group in the third quarter valued at approximately $8,352,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.