EMCOR Group, Inc. (NYSE:EME)‘s stock had its “hold” rating reiterated by equities research analysts at KeyCorp in a note issued to investors on Friday.
EME has been the topic of a number of other research reports. Zacks Investment Research raised EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Monday, July 31st. BidaskClub lowered EMCOR Group from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and set a $88.00 price objective (up previously from $75.00) on shares of EMCOR Group in a research note on Thursday, October 26th. Finally, ValuEngine lowered EMCOR Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. EMCOR Group presently has an average rating of “Hold” and an average target price of $83.33.
Shares of EMCOR Group (NYSE:EME) opened at $78.75 on Friday. 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 has a 12-month low of $59.76 and a 12-month high of $81.77. The company has a market capitalization of $4,631.60, a P/E ratio of 21.63, a P/E/G ratio of 1.38 and a beta of 1.02.
EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.27. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion. EMCOR Group had a return on equity of 13.94% and a net margin of 2.82%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. analysts predict that EMCOR Group will post 3.79 EPS for the current fiscal year.
EMCOR Group declared that its Board of Directors has approved a stock buyback plan on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
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In other news, Director Jerry E. Ryan sold 13,000 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $78.06, for a total value of $1,014,780.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of EMCOR Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,982,822 shares of the construction company’s stock valued at $325,777,000 after purchasing an additional 65,908 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of EMCOR Group by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,202,317 shares of the construction company’s stock valued at $152,797,000 after purchasing an additional 82,349 shares during the last quarter. State Street Corp lifted its stake in EMCOR Group by 2.5% during the 2nd quarter. State Street Corp now owns 2,059,368 shares of the construction company’s stock worth $134,642,000 after acquiring an additional 50,588 shares in the last quarter. Northern Trust Corp lifted its stake in EMCOR Group by 2.1% during the 2nd quarter. Northern Trust Corp now owns 1,611,590 shares of the construction company’s stock worth $105,366,000 after acquiring an additional 33,361 shares in the last quarter. Finally, Ruane Cunniff & Goldfarb Inc. lifted its stake in EMCOR Group by 1.7% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,441,346 shares of the construction company’s stock worth $100,001,000 after acquiring an additional 23,775 shares in the last quarter. 94.06% of the stock is currently owned by institutional investors and hedge funds.
EMCOR Group Company Profile
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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