EMCOR Group (NYSE:EME) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of EMCOR Group (NYSE:EME) from a strong-buy rating to a buy rating in a research report sent to investors on Monday morning.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price target for the company. The Goldman Sachs Group initiated coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. Finally, Northcoast Research began coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Stock Down 19.2 %

EMCOR Group stock opened at $429.70 on Monday. EMCOR Group has a twelve month low of $220.62 and a twelve month high of $545.29. The company has a market capitalization of $19.77 billion, a P/E ratio of 21.82 and a beta of 1.12. The stock’s 50 day moving average is $490.19 and its 200 day moving average is $437.44.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. The firm had revenue of $3.70 billion for 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 company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.61 earnings per share. As a group, equities analysts expect that EMCOR Group will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, January 16th. EMCOR Group’s payout ratio is 5.08%.

Institutional Investors Weigh In On EMCOR Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its stake 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 worth $694,351,000 after buying an additional 24,541 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 worth $428,313,000 after acquiring an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in EMCOR Group by 4.3% in the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in EMCOR Group by 11.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after purchasing an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in EMCOR Group by 45.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after buying an additional 88,074 shares in the last quarter. 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.