EMCOR Group (NYSE:EME) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of EMCOR Group (NYSE:EMEFree Report) from a buy rating to a strong-buy rating in a research note published on Saturday.

Separately, DA Davidson raised their price target on EMCOR Group from $410.00 to $430.00 and gave the company a buy rating in a research report on Friday, July 26th.

View Our Latest Analysis on EME

EMCOR Group Trading Up 0.8 %

Shares of NYSE:EME opened at $430.53 on Friday. EMCOR Group has a 1 year low of $191.50 and a 1 year high of $443.96. The business has a fifty day simple moving average of $379.09 and a 200 day simple moving average of $370.53. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 28.40 and a beta of 1.07.

EMCOR Group (NYSE:EMEGet Free Report) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. On average, sell-side analysts forecast that EMCOR Group will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were paid a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

EMCOR Group declared that its Board of Directors has approved a stock repurchase program on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.8% 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.

Insider Transactions at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Eagle Bay Advisors LLC lifted its stake in shares of EMCOR Group by 8.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock valued at $160,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC increased its position in shares of EMCOR Group by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock valued at $84,000 after buying an additional 35 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in shares of EMCOR Group by 2.2% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock valued at $787,000 after buying an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of EMCOR Group by 30.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock valued at $73,000 after buying an additional 47 shares in the last quarter. Finally, Cooper Financial Group increased its position in shares of EMCOR Group by 3.7% in the 2nd quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock valued at $485,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About EMCOR Group

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EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.

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