EMCOR Group (NYSE:EME) Stock Rating Lowered by StockNews.com

EMCOR Group (NYSE:EME) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

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

EMCOR Group Stock Up 1.3 %

Shares of EMCOR Group stock opened at $435.60 on Friday. EMCOR Group has a 12 month low of $191.50 and a 12 month high of $437.10. The business has a fifty day simple moving average of $373.10 and a 200 day simple moving average of $366.40. The stock has a market cap of $20.47 billion, a PE ratio of 28.73 and a beta of 1.07.

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

EMCOR Group announced that its Board of Directors has initiated a stock buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

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

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.