EMCOR Group (NYSE:EME) Coverage Initiated by Analysts at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group started coverage on shares of EMCOR Group (NYSE:EME) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a “sell” rating and a $445.00 price target on the construction company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 15.59% from the company’s current price.

Several other analysts have also recently commented on the company. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson boosted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus initiated coverage on EMCOR Group in a research note on Friday, November 15th. They set 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 assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $491.67.

EMCOR Group Price Performance

EMCOR Group stock opened at $527.16 on Friday. The stock has a market capitalization of $24.25 billion, a PE ratio of 26.77 and a beta of 1.07. EMCOR Group has a 12 month low of $209.31 and a 12 month high of $532.38. The business has a 50 day simple moving average of $452.05 and a 200-day simple moving average of $400.82.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping 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 analysts’ expectations of $3.77 billion. During the same period in the previous year, the business earned $3.61 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that EMCOR Group will post 20.74 EPS for the current fiscal year.

Hedge Funds Weigh In On EMCOR Group

Several large investors have recently modified their holdings of EME. CANADA LIFE ASSURANCE Co lifted its stake in EMCOR Group by 20.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,643 shares of the construction company’s stock worth $11,437,000 after acquiring an additional 5,633 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in EMCOR Group during the 1st quarter worth about $330,000. Price T Rowe Associates Inc. MD lifted its stake in EMCOR Group by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 144,801 shares of the construction company’s stock worth $50,711,000 after acquiring an additional 13,995 shares in the last quarter. Ascent Group LLC acquired a new position in EMCOR Group during the 1st quarter worth about $261,000. Finally, Caxton Associates LP acquired a new position in EMCOR Group during the 1st quarter worth about $929,000. 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.