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

EMCOR Group (NYSE:EME) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, DA Davidson increased their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Trading Down 0.5 %

EME opened at $427.29 on Friday. The company has a fifty day simple moving average of $377.82 and a 200 day simple moving average of $369.11. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of 28.19 and a beta of 1.07. EMCOR Group has a twelve month low of $191.50 and a twelve month high of $443.96.

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

EMCOR Group declared that its board has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the transaction, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

Institutional Investors Weigh In On EMCOR Group

A number of hedge funds and other institutional investors have recently modified their holdings of EME. Matrix Trust Co acquired a new position in EMCOR Group during the 2nd quarter valued at about $26,000. Proffitt & Goodson Inc. acquired a new stake in shares of EMCOR Group in the second quarter valued at $27,000. Innealta Capital LLC bought a new position in EMCOR Group during the second quarter valued at about $29,000. ORG Partners LLC acquired a new stake in EMCOR Group in the 2nd quarter valued at about $31,000. Finally, Independence Bank of Kentucky bought a new position in shares of EMCOR Group during the 1st quarter valued at about $33,000. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Company Profile

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.