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

StockNews.com upgraded shares of EMCOR Group (NYSE:EME) 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.

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:EME) 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

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.