EMCOR Group, Inc. (NYSE:EME)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a research report issued on Wednesday, November 1st. They currently have a $88.00 target price on the construction company’s stock, up from their previous target price of $75.00. Stifel Nicolaus’ price target would suggest a potential upside of 11.34% from the company’s previous close.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised EMCOR Group from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, October 31st. KeyCorp reissued a “hold” rating on shares of EMCOR Group in a research note on Friday, August 25th. Finally, BidaskClub lowered EMCOR Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. EMCOR Group presently has an average rating of “Hold” and a consensus price target of $83.33.
EMCOR Group (EME) traded down $0.22 during trading hours on Wednesday, hitting $79.04. The company had a trading volume of 484,100 shares, compared to its average volume of 355,930. EMCOR Group has a fifty-two week low of $59.76 and a fifty-two week high of $81.77. The company has a market capitalization of $4,648.64, a P/E ratio of 21.71, a PEG ratio of 1.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.44.
EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.27. EMCOR Group had a return on equity of 13.94% and a net margin of 2.82%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. research analysts anticipate that EMCOR Group will post 3.79 EPS for the current year.
EMCOR Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
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In other EMCOR Group news, Director Jerry E. Ryan sold 13,000 shares of EMCOR Group stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of EME. Voya Investment Management LLC increased its holdings in shares of EMCOR Group by 432.9% in the 2nd quarter. Voya Investment Management LLC now owns 622,251 shares of the construction company’s stock worth $40,682,000 after buying an additional 505,481 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in EMCOR Group by 75.3% during the second quarter. TimesSquare Capital Management LLC now owns 882,209 shares of the construction company’s stock valued at $57,679,000 after acquiring an additional 378,815 shares during the last quarter. Vanguard Group Inc. lifted its position in EMCOR Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 4,916,914 shares of the construction company’s stock valued at $309,520,000 after acquiring an additional 183,084 shares during the last quarter. Prudential Financial Inc. increased its stake in EMCOR Group by 19.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,102,699 shares of the construction company’s stock valued at $76,506,000 after purchasing an additional 182,340 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in EMCOR Group by 53.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 385,362 shares of the construction company’s stock valued at $25,195,000 after purchasing an additional 134,957 shares in the last quarter. Hedge funds and other institutional investors own 94.06% of the company’s stock.
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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