A number of other research analysts also recently issued reports on EME. BidaskClub downgraded shares of EMCOR Group from a buy rating to a hold rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of EMCOR Group from a hold rating to a buy rating and set a $76.00 price target on the stock in a research report on Monday, July 31st. Finally, KeyCorp restated a hold rating on shares of EMCOR Group in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. EMCOR Group has an average rating of Hold and a consensus target price of $72.33.
EMCOR Group (NYSE:EME) traded down 0.50% on Thursday, reaching $78.98. 151,662 shares of the company’s stock were exchanged. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 23.68 and a beta of 0.89. EMCOR Group has a 1-year low of $59.20 and a 1-year high of $80.64. The stock’s 50 day moving average price is $69.69 and its 200 day moving average price is $66.18.
EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.27. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts expect that EMCOR Group will post $3.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 17th will be given a $0.08 dividend. The ex-dividend date is Monday, October 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. EMCOR Group’s payout ratio is currently 8.94%.
EMCOR Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of large investors have recently modified their holdings of EME. Bruderman Asset Management LLC bought a new stake in EMCOR Group in the 2nd quarter valued at about $118,000. Bronfman E.L. Rothschild L.P. lifted 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 lifted 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. lifted 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 lifted 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 93.10% 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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