EMCOR Group (NYSE:EME) Stock Gets Price Target Cut from UBS Group

EMCOR Group (NYSE:EME) had its price objective reduced by UBS Group from $1,065.00 to $925.00 in a research report released on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

Several other equities analysts have also weighed in on the stock. Oppenheimer cut their target price on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. DA Davidson set a $1,047.00 price target on shares of EMCOR Group in a report on Monday, August 10th. Cantor Fitzgerald dropped their price target on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Weiss Ratings lowered shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Finally, Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $931.86.

EMCOR Group Stock Up 2.0%

Shares of EME traded up $12.07 during mid-day trading on Wednesday, reaching $607.39. The company had a trading volume of 942,725 shares, compared to its average volume of 422,987. EMCOR Group has a 52-week low of $564.92 and a 52-week high of $951.96. The stock has a market capitalization of $26.59 billion, a P/E ratio of 17.54 and a beta of 1.16. The stock has a 50 day moving average of $730.82 and a two-hundred day moving average of $778.70.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, beating the consensus estimate of $8.37 by $1.23. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The company had revenue of $5.54 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $6.57 earnings per share. EMCOR Group’s quarterly revenue was up 28.8% on a year-over-year basis. On average, sell-side analysts expect that EMCOR Group will post 34.79 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, October 15th. EMCOR Group’s dividend payout ratio is presently 4.62%.

EMCOR Group declared that its Board of Directors has authorized a stock buyback program on Thursday, October 29th that allows the company to repurchase $500 million in shares. This buyback authorization allows the construction company to buy up to 1.7% of its stock through open market purchases. Share buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On EMCOR Group

A number of institutional investors have recently added to or reduced their stakes in EME. BlackRock Inc. acquired a new position in EMCOR Group during the second quarter worth $3,416,412,000. First Trust Advisors LP grew its position in shares of EMCOR Group by 7.3% in the first quarter. First Trust Advisors LP now owns 630,406 shares of the construction company’s stock valued at $465,435,000 after purchasing an additional 42,949 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of EMCOR Group by 9.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 416,734 shares of the construction company’s stock valued at $345,839,000 after purchasing an additional 34,358 shares during the period. Deutsche Bank AG purchased a new stake in shares of EMCOR Group during the second quarter worth about $342,273,000. Finally, Value Aligned Research Advisors LLC increased its stake in shares of EMCOR Group by 56.6% during the second quarter. Value Aligned Research Advisors LLC now owns 349,960 shares of the construction company’s stock worth $290,425,000 after purchasing an additional 126,439 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Company Profile

EMCOR Group is a provider of mechanical and electrical construction and facilities services. Through its operating companies, it designs, installs, maintains and upgrades building systems and related infrastructure for commercial, industrial, institutional and government customers.

Its services include heating, ventilation and air conditioning; electrical and power systems; plumbing and piping; building automation; energy infrastructure; and ongoing facilities management. The company also provides industrial services, such as maintenance and support for process and manufacturing facilities.

EMCOR serves customers across the United States and in select international markets, including the United Kingdom.