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

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

Several other brokerages have also commented on EME. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson raised their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus started coverage on EMCOR Group in a research note on Friday, November 15th. They set a “buy” rating and a $600.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average price target of $491.67.

EMCOR Group Stock Up 2.2 %

EME stock opened at $527.16 on Friday. The business’s fifty day simple moving average is $452.05 and its two-hundred day simple moving average is $400.82. EMCOR Group has a twelve month low of $209.31 and a twelve month high of $532.38. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 26.77 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.61 earnings per share. Research analysts expect that EMCOR Group will post 20.74 EPS for the current year.

Hedge Funds Weigh In On EMCOR Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors LLC acquired a new stake in EMCOR Group in the third quarter worth about $100,282,000. Acadian Asset Management LLC lifted its holdings in shares of EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of EMCOR Group by 155.5% during the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after purchasing an additional 126,148 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of EMCOR Group by 99.2% during the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of EMCOR Group by 971.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after purchasing an additional 91,837 shares during the period. Hedge funds and other institutional investors 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.