EMCOR Group (NYSE:EME) Stock Gets Price Target Reduction from Cantor Fitzgerald

EMCOR Group (NYSE:EME) had its target price reduced by Cantor Fitzgerald from $1,047.00 to $920.00 in a research report released on Monday, Marketbeat reports. They currently have an overweight rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on EME. The Goldman Sachs Group dropped their price objective on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Oppenheimer boosted their price objective on shares of EMCOR Group from $1,100.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. DA Davidson set a $1,047.00 target price on EMCOR Group in a report on Monday, August 10th. Finally, UBS Group reaffirmed a “buy” rating and set a $1,065.00 target price (up from $975.00) on shares of EMCOR Group in a research report on Friday, October 9th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, EMCOR Group has an average rating of “Moderate Buy” and a consensus target price of $931.86.

EMCOR Group Price Performance

NYSE:EME opened at $638.07 on Monday. EMCOR Group has a 1-year low of $564.92 and a 1-year high of $951.96. The company has a 50-day moving average of $737.59 and a 200 day moving average of $779.62. The firm has a market cap of $27.93 billion, a PE ratio of 21.64 and a beta of 1.16.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 29th. The construction company reported $9.60 EPS for the quarter, beating analysts’ consensus estimates of $8.37 by $1.23. EMCOR Group had a net margin of 7.78% and a return on equity of 36.65%. The business had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $6.57 EPS. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. Sell-side analysts anticipate that EMCOR Group will post 34.79 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.3%. EMCOR Group’s payout ratio is currently 4.62%.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Thursday, October 29th that permits the company to repurchase $500 million in shares. This repurchase authorization permits the construction company to repurchase up to 1.7% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of EMCOR Group

A number of institutional investors have recently modified their holdings of the company. Lido Advisors LLC lifted its holdings in shares of EMCOR Group by 128.1% during the third quarter. Lido Advisors LLC now owns 2,883 shares of the construction company’s stock worth $2,175,000 after purchasing an additional 1,619 shares during the period. Keybank National Association OH boosted its position in EMCOR Group by 3.6% in the third quarter. Keybank National Association OH now owns 1,791 shares of the construction company’s stock valued at $1,351,000 after buying an additional 63 shares during the last quarter. Gen Wealth Partners Inc increased its holdings in EMCOR Group by 182.9% in the 3rd quarter. Gen Wealth Partners Inc now owns 1,344 shares of the construction company’s stock worth $1,014,000 after buying an additional 869 shares during the period. Kestra Investment Management LLC increased its holdings in EMCOR Group by 116.5% in the 3rd quarter. Kestra Investment Management LLC now owns 2,479 shares of the construction company’s stock worth $1,871,000 after buying an additional 1,334 shares during the period. Finally, AlphaCore Capital LLC increased its holdings in EMCOR Group by 26.4% in the 3rd quarter. AlphaCore Capital LLC now owns 1,021 shares of the construction company’s stock worth $770,000 after buying an additional 213 shares during the period. 92.59% of the stock is currently owned by institutional investors.

About EMCOR Group

EMCOR Group, Inc provides construction, engineering, and building services through a network of specialty contracting businesses. Its core activities include electrical and mechanical construction, energy infrastructure, building systems, facilities services, and industrial maintenance. The company serves commercial, institutional, industrial, manufacturing, healthcare, education, government, and infrastructure customers.

Its services cover the design, installation, operation, maintenance, and upgrading of electrical, heating, ventilation, air-conditioning, plumbing, fire protection, and building automation systems.