EMCOR Group (NYSE:EME) Price Target Cut to $514.00 by Analysts at Stifel Nicolaus

EMCOR Group (NYSE:EME) had its target price reduced by Stifel Nicolaus from $600.00 to $514.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other brokerages have also recently weighed in on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. 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. Finally, Northcoast Research initiated coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Down 4.3 %

EME stock opened at $402.58 on Thursday. EMCOR Group has a 52 week low of $289.51 and a 52 week high of $545.29. The business has a 50-day simple moving average of $460.76 and a 200 day simple moving average of $448.49. The company has a market cap of $18.52 billion, a PE ratio of 20.45 and a beta of 1.11.

EMCOR Group (NYSE:EME) last released its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.79. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, analysts anticipate that EMCOR Group will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 5.08%.

Institutional Investors Weigh In On EMCOR Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Continuum Advisory LLC raised its holdings in shares of EMCOR Group by 53.7% in the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock valued at $38,000 after purchasing an additional 29 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of EMCOR Group during the 4th quarter worth approximately $45,000. True Wealth Design LLC lifted its position in shares of EMCOR Group by 3,466.7% during the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after buying an additional 104 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of EMCOR Group in the third quarter valued at approximately $55,000. 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.