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

EMCOR Group (NYSE:EME) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Separately, DA Davidson upped 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 Down 0.1 %

NYSE:EME opened at $439.76 on Wednesday. The stock has a 50 day simple moving average of $388.92 and a 200 day simple moving average of $375.36. EMCOR Group has a 1-year low of $191.50 and a 1-year high of $445.65. The stock has a market cap of $20.67 billion, a P/E ratio of 29.01 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its quarterly 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 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%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.95 earnings per share. As a group, sell-side analysts forecast that EMCOR Group will post 19.5 EPS for the current year.

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’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 transaction of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares in the company, valued at $3,202,513.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.26% of the stock is currently owned by company insiders.

Institutional Trading of EMCOR Group

A number of hedge funds have recently bought and sold shares of EME. Wealth Enhancement Advisory Services LLC increased its holdings in EMCOR Group by 89.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock valued at $7,595,000 after buying an additional 10,269 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of EMCOR Group by 18.9% during the first quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock valued at $50,114,000 after buying an additional 22,700 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of EMCOR Group by 92.8% during the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock valued at $35,901,000 after purchasing an additional 49,346 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of EMCOR Group in the fourth quarter worth about $9,565,000. Finally, BTC Capital Management Inc. bought a new stake in shares of EMCOR Group in the first quarter worth about $701,000. Hedge funds and other institutional investors 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.