EMCOR Group (NYSE:EME) Price Target Raised to $754.00

EMCOR Group (NYSE:EME) had its target price increased by Stifel Nicolaus from $713.00 to $754.00 in a research report report published on Monday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the construction company’s stock.

A number of other research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. DA Davidson raised their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, The Goldman Sachs Group raised EMCOR Group from a “sell” rating to a “neutral” rating and upped their target price for the stock from $495.00 to $676.00 in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Trading Up 1.5%

Shares of EME stock opened at $727.02 on Monday. EMCOR Group has a twelve month low of $320.89 and a twelve month high of $778.64. The stock has a market cap of $32.55 billion, a P/E ratio of 29.23 and a beta of 1.17. The stock has a 50 day moving average of $639.76 and a 200 day moving average of $638.29.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 EPS for the quarter, hitting analysts’ consensus estimates of $6.57. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.27 billion. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The business’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $5.80 EPS. On average, research analysts predict that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has initiated a share buyback program on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is 6.43%.

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,325 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $677.22, for a total value of $897,316.50. Following the completion of the transaction, the director directly owned 6,140 shares of the company’s stock, valued at approximately $4,158,130.80. This represents a 17.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Institutional Investors Weigh In On EMCOR Group

A number of large investors have recently modified their holdings of the business. Main Street Group LTD boosted its position in EMCOR Group by 110.0% during the third quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock worth $27,000 after acquiring an additional 22 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in EMCOR Group in the 4th quarter worth approximately $26,000. Quent Capital LLC acquired a new position in shares of EMCOR Group during the 3rd quarter worth approximately $29,000. Orion Capital Management LLC acquired a new position in shares of EMCOR Group during the 3rd quarter worth approximately $31,000. Finally, Richardson Financial Services Inc. grew its position in shares of EMCOR Group by 71.9% in the fourth quarter. Richardson Financial Services Inc. now owns 55 shares of the construction company’s stock valued at $34,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Company Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.