EMCOR Group, Inc. (EME) Lowered to Hold at ValuEngine
EMCOR Group, Inc. (NYSE:EME) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
Several other research firms have also recently weighed in on EME. Zacks Investment Research raised shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Monday, July 31st. BidaskClub lowered shares of EMCOR Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and issued a $88.00 target price (up previously from $75.00) on shares of EMCOR Group in a report on Thursday, October 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of EMCOR Group in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $83.33.
Shares of EMCOR Group (NYSE EME) opened at $78.90 on Tuesday. EMCOR Group has a 52 week low of $59.76 and a 52 week high of $81.77. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.44. The company has a market cap of $4,648.64, a PE ratio of 21.71, a P/E/G ratio of 1.39 and a beta of 1.02.
EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.27. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.93 billion. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. analysts expect that EMCOR Group will post 3.79 EPS for the current fiscal year.
EMCOR Group announced that its Board of Directors has approved a stock repurchase program on Thursday, October 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In other news, Director Jerry E. Ryan sold 13,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in EMCOR Group in the third quarter valued at about $3,195,000. Comerica Bank lifted its position in shares of EMCOR Group by 1.3% during the second quarter. Comerica Bank now owns 58,682 shares of the construction company’s stock worth $3,756,000 after purchasing an additional 725 shares in the last quarter. Century Capital Management LLC lifted its position in shares of EMCOR Group by 102.9% during the second quarter. Century Capital Management LLC now owns 52,162 shares of the construction company’s stock worth $3,410,000 after purchasing an additional 26,448 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of EMCOR Group by 31.4% during the second quarter. SG Americas Securities LLC now owns 20,158 shares of the construction company’s stock worth $1,318,000 after purchasing an additional 4,814 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of EMCOR Group during the second quarter worth about $393,000. 94.06% of the stock is currently owned by institutional investors.
About EMCOR Group
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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