The Goldman Sachs Group Initiates Coverage on EMCOR Group (NYSE:EME)

Investment analysts at The Goldman Sachs Group began coverage on shares of EMCOR Group (NYSE:EME) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “sell” rating and a $445.00 price target on the construction company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 11.87% from the stock’s previous close.

Other analysts have also issued reports about the company. DA Davidson increased their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research note on Friday, November 15th. They set a “buy” rating and a $600.00 price objective on the stock. Finally, StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Stock Performance

EME opened at $504.92 on Friday. The stock has a fifty day moving average of $457.00 and a 200-day moving average of $402.62. The company has a market capitalization of $23.23 billion, a P/E ratio of 25.64 and a beta of 1.07. EMCOR Group has a fifty-two week low of $209.31 and a fifty-two week high of $532.38.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS 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 net margin of 6.51% and a return on equity of 34.99%. EMCOR Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $3.61 earnings per share. On average, equities research analysts predict that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EMCOR Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. World Investment Advisors LLC bought a new stake in shares of EMCOR Group during the third quarter worth $100,282,000. Acadian Asset Management LLC grew its position in EMCOR Group by 34.4% during 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 during the last quarter. Panagora Asset Management Inc. increased its holdings in EMCOR Group by 155.5% in the 2nd 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 in the last quarter. Renaissance Technologies LLC raised its position in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake 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 valued at $36,978,000 after purchasing an additional 91,837 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

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.