EMCOR Group, Inc. (EME) Receives Buy Rating from Stifel Nicolaus
Stifel Nicolaus reiterated their buy rating on shares of EMCOR Group, Inc. (NYSE:EME) in a research report report published on Wednesday morning. The firm currently has a $88.00 price objective on the construction company’s stock, up from their prior price objective of $75.00.
A number of other equities analysts have also commented on EME. BidaskClub lowered shares of EMCOR Group from a buy rating to a hold rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of EMCOR Group from a hold rating to a buy rating and set a $76.00 price target on the stock in a research report on Monday, July 31st. Finally, KeyCorp reissued a hold rating on shares of EMCOR Group in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. EMCOR Group currently has an average rating of Hold and an average price target of $83.33.
EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.27. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year.
EMCOR Group declared that its board has approved a share buyback plan on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Tuesday, October 17th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, October 16th. EMCOR Group’s dividend payout ratio is 8.94%.
In other news, Director Jerry E. Ryan sold 13,000 shares of EMCOR Group stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. increased its position in EMCOR Group by 49.9% during the third quarter. Daiwa Securities Group Inc. now owns 60,100 shares of the construction company’s stock worth $4,170,000 after acquiring an additional 20,000 shares during the period. Train Babcock Advisors LLC increased its position in EMCOR Group by 4.4% during the third quarter. Train Babcock Advisors LLC now owns 43,680 shares of the construction company’s stock worth $3,030,000 after acquiring an additional 1,835 shares during the period. Prudential Financial Inc. increased its position in EMCOR Group by 19.8% during the third quarter. Prudential Financial Inc. now owns 1,102,699 shares of the construction company’s stock worth $76,506,000 after acquiring an additional 182,340 shares during the period. State of Tennessee Treasury Department increased its position in EMCOR Group by 76.5% during the third quarter. State of Tennessee Treasury Department now owns 52,942 shares of the construction company’s stock worth $3,673,000 after acquiring an additional 22,942 shares during the period. Finally, Legato Capital Management LLC increased its position in EMCOR Group by 14.8% during the third quarter. Legato Capital Management LLC now owns 25,048 shares of the construction company’s stock worth $1,737,000 after acquiring an additional 3,235 shares during the period. 93.10% of the stock is currently owned by institutional investors and hedge funds.
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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