EMCOR Group, Inc. (NYSE:EME) Receives $692.83 Average Target Price from Analysts

EMCOR Group, Inc. (NYSE:EME) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $698.8333.

EME has been the topic of several analyst reports. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and upped their price objective for the company from $495.00 to $676.00 in a research note on Tuesday, October 7th. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus increased their price objective on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Finally, Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,325 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $677.22, for a total transaction of $897,316.50. Following the completion of the sale, the director directly owned 6,140 shares of the company’s stock, valued at $4,158,130.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by company insiders.

Institutional Trading of EMCOR Group

Several large investors have recently made changes to their positions in EME. Donoghue Forlines LLC bought a new position in EMCOR Group during the third quarter worth $2,221,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of EMCOR Group during the 2nd quarter worth about $995,000. Exchange Traded Concepts LLC bought a new stake in shares of EMCOR Group during the 3rd quarter worth about $528,000. Pinnbrook Capital Management LP acquired a new position in EMCOR Group in the 2nd quarter valued at about $1,510,000. Finally, Nordea Investment Management AB raised its holdings in EMCOR Group by 63.8% in the 2nd quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock valued at $210,278,000 after acquiring an additional 153,948 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EME stock opened at $727.02 on Friday. The firm has a fifty day moving average of $639.76 and a 200-day moving average of $638.29. The stock has a market cap of $32.55 billion, a price-to-earnings ratio of 29.23 and a beta of 1.17. EMCOR Group has a 52-week low of $320.89 and a 52-week high of $778.64.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, meeting the consensus estimate of $6.57. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the business earned $5.80 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts predict that EMCOR Group will post 20.74 earnings per share for the current year.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 14th. EMCOR Group’s dividend payout ratio is presently 6.43%.

EMCOR Group declared that its Board of Directors has approved a stock repurchase program on Thursday, December 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

About EMCOR Group

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.