EMCOR Group (NYSE:EME) Coverage Initiated at Northcoast Research

Investment analysts at Northcoast Research began coverage on shares of EMCOR Group (NYSE:EME) in a research report issued to clients and investors on Friday, Marketbeat reports. The firm set a “buy” rating and a $600.00 price target on the construction company’s stock. Northcoast Research’s price target suggests a potential upside of 18.83% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. DA Davidson upped their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group assumed coverage on EMCOR Group in a research report on Friday. They set a “sell” rating and a $445.00 target price on the stock. Stifel Nicolaus initiated coverage on EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. Finally, StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, EMCOR Group has a consensus rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Trading Down 4.2 %

Shares of EME opened at $504.92 on Friday. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 25.64 and a beta of 1.07. The firm’s fifty day simple moving average is $457.00 and its 200-day simple moving average is $402.62. EMCOR Group has a twelve month low of $209.31 and a twelve month high of $532.38.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.82. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.61 EPS. On average, analysts predict that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

Institutional Trading of EMCOR Group

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after buying an additional 24,541 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after purchasing an additional 49,137 shares in the last quarter. Acadian Asset Management LLC boosted its position in EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after acquiring an additional 134,575 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after acquiring an additional 88,909 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in EMCOR Group by 4.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock worth $152,427,000 after purchasing an additional 14,447 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

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.