Stifel Nicolaus reissued their buy rating on shares of EMCOR Group, Inc. (NYSE:EME) in a research report released on Wednesday. Stifel Nicolaus currently has a $88.00 price target on the construction company’s stock, up from their previous price target of $75.00.
Several other research firms also recently weighed in on EME. 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. BidaskClub downgraded EMCOR Group from a hold rating to a sell rating in a report on Friday, July 28th. Finally, KeyCorp reissued a hold rating on shares of EMCOR Group in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $83.33.
Shares of EMCOR Group (NYSE EME) opened at $81.25 on Wednesday. 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 twelve month low of $59.61 and a twelve month high of $81.73. The firm has a market capitalization of $4,778.64, a price-to-earnings ratio of 22.32, a P/E/G ratio of 1.43 and a beta of 1.02.
EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, beating 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 the consensus estimate of $1.93 billion. During the same quarter last year, the business posted $0.85 EPS. EMCOR Group’s revenue for the quarter was down 2.9% on a year-over-year basis. research analysts forecast that EMCOR Group will post 3.79 earnings per share for the current 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. This represents a $0.32 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Monday, October 16th. EMCOR Group’s dividend payout ratio is currently 8.94%.
EMCOR Group declared that its Board of Directors has initiated 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 repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Jerry E. Ryan sold 13,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in EMCOR Group by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,982,822 shares of the construction company’s stock worth $325,777,000 after purchasing an additional 65,908 shares during the last quarter. Victory Capital Management Inc. raised its position in EMCOR Group by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,202,317 shares of the construction company’s stock worth $152,797,000 after purchasing an additional 82,349 shares during the last quarter. State Street Corp raised its position 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 purchasing an additional 50,588 shares during the last quarter. Northern Trust Corp raised its position 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 purchasing an additional 33,361 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in EMCOR Group by 0.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,368,615 shares of the construction company’s stock worth $89,480,000 after purchasing an additional 3,977 shares during the last quarter. 93.10% of the stock is 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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