EMCOR Group (NYSE:EME) Cut to “Buy” at StockNews.com

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

Several other research firms have also recently weighed in on EME. Stifel Nicolaus initiated coverage on EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price target for the company. Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective for the company. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Price Performance

Shares of NYSE EME opened at $440.39 on Monday. The stock has a market cap of $20.26 billion, a PE ratio of 22.37 and a beta of 1.12. EMCOR Group has a 1 year low of $226.51 and a 1 year high of $545.29. The firm has a fifty day moving average price of $485.73 and a 200-day moving average price of $438.27.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. EMCOR Group’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the company posted $3.61 earnings per share. On average, research analysts expect that EMCOR Group will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

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

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in shares of EMCOR Group by 56.2% during the second quarter. Bank of Montreal Can now owns 12,179 shares of the construction company’s stock valued at $4,708,000 after buying an additional 4,380 shares during the period. Toronto Dominion Bank boosted its stake in shares of EMCOR Group by 5,880.5% during the second quarter. Toronto Dominion Bank now owns 4,605 shares of the construction company’s stock valued at $1,681,000 after purchasing an additional 4,528 shares during the period. APG Asset Management N.V. bought a new position in shares of EMCOR Group in the second quarter worth about $1,516,000. MBB Public Markets I LLC purchased a new position in EMCOR Group in the 2nd quarter worth about $1,227,000. Finally, Millennium Management LLC lifted its holdings in EMCOR Group by 10.2% during the 2nd quarter. Millennium Management LLC now owns 215,834 shares of the construction company’s stock valued at $78,797,000 after buying an additional 19,982 shares in the last quarter. 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.