StockNews.com Lowers EMCOR Group (NYSE:EME) to Buy

StockNews.com downgraded shares of EMCOR Group (NYSE:EME) from a strong-buy rating to a buy rating in a research note released on Friday morning.

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

EMCOR Group Trading Up 1.3 %

Shares of EME stock opened at $435.60 on Friday. The company’s 50-day moving average price is $373.10 and its 200-day moving average price is $366.69. The stock has a market cap of $20.47 billion, a price-to-earnings ratio of 28.73 and a beta of 1.07. EMCOR Group has a twelve month low of $191.50 and a twelve month high of $437.10.

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

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were issued a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

EMCOR Group announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Institutional Trading of EMCOR Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Avantax Advisory Services Inc. purchased a new stake in shares of EMCOR Group during the fourth quarter worth approximately $219,000. Janney Montgomery Scott LLC increased its stake in shares of EMCOR Group by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,158 shares of the construction company’s stock worth $1,542,000 after buying an additional 85 shares during the period. Norges Bank purchased a new stake in shares of EMCOR Group during the fourth quarter worth approximately $153,739,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of EMCOR Group during the fourth quarter worth approximately $441,000. Finally, Corient Private Wealth LLC increased its stake in shares of EMCOR Group by 449.5% during the fourth quarter. Corient Private Wealth LLC now owns 10,511 shares of the construction company’s stock worth $2,264,000 after buying an additional 8,598 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

About EMCOR Group

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.