EMCOR Group, Inc. (NYSE:EME) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One 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. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $83.33.
EME has been the topic of several recent research reports. 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 report on Wednesday, November 1st. 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 report on Friday. ValuEngine downgraded EMCOR Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, BidaskClub downgraded EMCOR Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th.
In related news, Director Jerry E. Ryan sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was 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 accessible through the SEC website. 2.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of EME. Bruderman Asset Management LLC bought a new position in EMCOR Group in the 2nd quarter valued at $118,000. Bronfman E.L. Rothschild L.P. raised its position in EMCOR Group by 4.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,897 shares of the construction company’s stock valued at $124,000 after purchasing an additional 76 shares during the last quarter. Global X Management Co. LLC raised its position in EMCOR Group by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,920 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,320 shares during the last quarter. Advisor Group Inc. raised its position in EMCOR Group by 73.1% in the 2nd quarter. Advisor Group Inc. now owns 2,269 shares of the construction company’s stock valued at $147,000 after purchasing an additional 958 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in EMCOR Group by 8.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the construction company’s stock valued at $155,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.
Shares of EMCOR Group (NYSE:EME) opened at $78.75 on Monday. EMCOR Group has a fifty-two week low of $59.76 and a fifty-two week high of $81.77. The firm has a market capitalization of $4,631.59, a P/E ratio of 21.64, a PEG 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 (NYSE:EME) last announced its quarterly earnings data 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 company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm earned $0.85 EPS. EMCOR Group’s revenue for the quarter was down 2.9% compared to the same quarter last year. research analysts expect that EMCOR Group will post 3.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Tuesday, October 17th were given a dividend of $0.08 per share. The ex-dividend date was Monday, October 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. EMCOR Group’s dividend payout ratio (DPR) is presently 8.94%.
EMCOR Group declared that its board has approved a stock buyback program on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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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