EMCOR Group (NYSE:EME) Stock Price Down 16.2% – Here’s What Happened

EMCOR Group, Inc. (NYSE:EME) shares dropped 16.2% during trading on Monday . The stock traded as low as $448.61 and last traded at $445.73. Approximately 291,535 shares traded hands during trading, a decline of 19% from the average daily volume of 357,869 shares. The stock had previously closed at $531.65.

Analysts Set New Price Targets

Several research analysts recently weighed in on EME shares. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. Northcoast Research started coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. 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 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Stock Performance

The company’s fifty day moving average is $487.24 and its two-hundred day moving average is $438.26. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 22.23 and a beta of 1.12.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company posted $3.61 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date is Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 5.08%.

Institutional Investors Weigh In On EMCOR Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in EMCOR Group in the third quarter valued at $33,000. Anchor Investment Management LLC increased its stake in shares of EMCOR Group by 89.3% in the 2nd quarter. Anchor Investment Management LLC now owns 106 shares of the construction company’s stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. True Wealth Design LLC raised its holdings in EMCOR Group by 3,466.7% in the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares during the period. Northwest Investment Counselors LLC acquired a new stake in EMCOR Group in the third quarter valued at approximately $49,000. Finally, SJS Investment Consulting Inc. increased its position in shares of EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after buying an additional 94 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.