ValuEngine downgraded shares of EMCOR Group, Inc. (NYSE:EME) from a buy rating to a hold rating in a report issued on Tuesday.
Several other research analysts have also commented on the company. BidaskClub lowered EMCOR Group from a hold rating to a sell rating in a research report on Thursday, August 24th. Zacks Investment Research lowered EMCOR Group from a hold rating to a sell rating in a research report on Wednesday, October 25th. Stifel Nicolaus reiterated a buy rating and issued a $88.00 price target (up previously from $75.00) on shares of EMCOR Group in a research report on Thursday, October 26th. Finally, KeyCorp reiterated a hold rating on shares of EMCOR Group in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $83.33.
EMCOR Group (NYSE:EME) opened at $78.75 on Tuesday. The company has a market capitalization of $4,630.00, a PE ratio of 21.44, a P/E/G ratio of 1.37 and a beta of 1.02. EMCOR Group has a 12-month low of $59.76 and a 12-month high of $81.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41.
EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.27. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.93 billion. EMCOR Group had a return on equity of 13.94% and a net margin of 2.82%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. analysts expect that EMCOR Group will post 3.79 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Tuesday, October 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, October 16th. EMCOR Group’s payout ratio is currently 8.84%.
EMCOR Group announced that its Board of Directors has initiated a stock buyback program on Thursday, October 26th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In other EMCOR Group news, Director Jerry E. Ryan sold 13,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Bruderman Asset Management LLC bought a new stake in shares of EMCOR Group during the second quarter valued at approximately $118,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of EMCOR Group by 4.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,897 shares of the construction company’s stock valued at $124,000 after acquiring an additional 76 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of EMCOR Group by 220.0% during the second quarter. Global X Management Co. LLC now owns 1,920 shares of the construction company’s stock valued at $126,000 after acquiring an additional 1,320 shares in the last quarter. Advisor Group Inc. raised its stake in shares of EMCOR Group by 73.1% during the second quarter. Advisor Group Inc. now owns 2,269 shares of the construction company’s stock valued at $147,000 after acquiring an additional 958 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of EMCOR Group by 8.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the construction company’s stock valued at $155,000 after acquiring an additional 194 shares in the last quarter. 94.06% of the stock is owned by hedge funds and other institutional investors.
About EMCOR Group
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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