EMCOR Group (NYSE:EME) Stock Price Target Cut by UBS Group

EMCOR Group (NYSE:EME) had its target price lowered by investment analysts at UBS Group from $1,065.00 to $925.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. UBS Group‘s target price suggests a potential upside of 44.97% from the company’s current price.

A number of other research analysts have also recently commented on EME. Weiss Ratings cut shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Robert W. Baird increased their target price on EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Oppenheimer cut their price target on EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald reduced their price target on EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a report on Monday. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $931.86.

EMCOR Group Stock Performance

Shares of EMCOR Group stock traded down $69.36 during trading on Wednesday, reaching $638.07. 873,534 shares of the company’s stock were exchanged, compared to its average volume of 399,171. EMCOR Group has a 1-year low of $564.92 and a 1-year high of $951.96. The company has a market cap of $27.93 billion, a P/E ratio of 18.43 and a beta of 1.16. The firm’s 50-day moving average price is $739.61 and its 200 day moving average price is $779.84.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, beating the consensus estimate of $8.37 by $1.23. The business had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.19 billion. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. EMCOR Group’s revenue was up 28.8% compared to the same quarter last year. During the same period last year, the firm posted $6.57 earnings per share. As a group, equities research analysts predict that EMCOR Group will post 35.13 EPS for the current year.

EMCOR Group declared that its Board of Directors has approved a share repurchase program on Thursday, October 29th that allows the company to buy back $500 million in outstanding shares. This buyback authorization allows the construction company to buy up to 1.7% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of EMCOR Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. increased its stake in shares of EMCOR Group by 3.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 356 shares of the construction company’s stock valued at $270,000 after buying an additional 13 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in shares of EMCOR Group by 2.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 725 shares of the construction company’s stock worth $547,000 after acquiring an additional 18 shares during the period. Empirical Finance LLC lifted its stake in shares of EMCOR Group by 0.8% in the first quarter. Empirical Finance LLC now owns 2,260 shares of the construction company’s stock worth $1,669,000 after acquiring an additional 19 shares during the period. CX Institutional boosted its holdings in EMCOR Group by 7.1% in the second quarter. CX Institutional now owns 286 shares of the construction company’s stock valued at $237,000 after acquiring an additional 19 shares during the last quarter. Finally, Kaizen Financial Strategies boosted its holdings in EMCOR Group by 5.1% in the first quarter. Kaizen Financial Strategies now owns 413 shares of the construction company’s stock valued at $327,000 after acquiring an additional 20 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.