EMCOR Group, Inc. (NYSE:EME)‘s stock had its “buy” rating restated by Stifel Nicolaus in a note issued to investors on Wednesday, November 1st. They presently have a $88.00 price objective on the construction company’s stock, up from their previous price objective of $75.00. Stifel Nicolaus’ price objective points to a potential upside of 10.46% from the stock’s previous close.
Several other research firms have also issued reports on EME. Zacks Investment Research upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Tuesday, October 31st. BidaskClub downgraded shares of EMCOR Group from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, KeyCorp reaffirmed a “hold” rating on shares of EMCOR Group in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. EMCOR Group currently has a consensus rating of “Hold” and an average target price of $83.33.
EMCOR Group (NYSE:EME) traded up $0.92 during mid-day trading on Wednesday, reaching $79.67. 247,919 shares of the company traded hands, compared to its average volume of 355,200. The firm has a market capitalization of $4,630.00, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. EMCOR Group has a 1-year low of $59.76 and a 1-year high of $81.77.
EMCOR Group (NYSE:EME) last released its earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.27. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.93 billion. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. EMCOR Group’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. equities analysts anticipate that EMCOR Group will post 3.79 earnings per share for the current year.
EMCOR Group announced that its board has approved a stock repurchase program on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the construction company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Jerry E. Ryan sold 13,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new stake in EMCOR Group in the 3rd quarter worth about $3,195,000. Comerica Bank grew its position in EMCOR Group by 1.3% in the 2nd quarter. Comerica Bank now owns 58,682 shares of the construction company’s stock worth $3,756,000 after purchasing an additional 725 shares in the last quarter. Vanguard Group Inc. grew its position in EMCOR Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 4,916,914 shares of the construction company’s stock worth $309,520,000 after purchasing an additional 183,084 shares in the last quarter. Century Capital Management LLC grew its position in EMCOR Group by 102.9% in the 2nd quarter. Century Capital Management LLC now owns 52,162 shares of the construction company’s stock worth $3,410,000 after purchasing an additional 26,448 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in EMCOR Group by 31.4% in the 2nd quarter. SG Americas Securities LLC now owns 20,158 shares of the construction company’s stock worth $1,318,000 after purchasing an additional 4,814 shares in the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.
About EMCOR Group
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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