EMCOR Group (NYSE:EME) Raised to Strong-Buy at StockNews.com

EMCOR Group (NYSE:EME) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, DA Davidson boosted their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Trading Down 0.5 %

Shares of EME opened at $427.09 on Friday. The business’s 50-day moving average price is $379.09 and its 200 day moving average price is $370.20. The stock has a market capitalization of $20.07 billion, a P/E ratio of 28.17 and a beta of 1.07. EMCOR Group has a 1-year low of $191.50 and a 1-year high of $443.96.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the firm posted $2.95 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts predict that EMCOR Group will post 19.5 earnings per share for the current year.

EMCOR Group announced that its board has initiated a share repurchase program on Friday, June 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EME. Stifel Financial Corp grew its position in EMCOR Group by 5.0% in the fourth quarter. Stifel Financial Corp now owns 101,264 shares of the construction company’s stock worth $21,815,000 after acquiring an additional 4,815 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in EMCOR Group by 3.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 21,240 shares of the construction company’s stock valued at $4,576,000 after buying an additional 650 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of EMCOR Group by 68.6% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 7,479 shares of the construction company’s stock worth $1,611,000 after buying an additional 3,042 shares during the last quarter. KBC Group NV bought a new stake in shares of EMCOR Group during the 4th quarter worth about $189,000. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of EMCOR Group by 3.9% during the 4th quarter. Burgundy Asset Management Ltd. now owns 679,902 shares of the construction company’s stock valued at $146,471,000 after acquiring an additional 25,241 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.