Stifel Nicolaus Lowers EMCOR Group (NYSE:EME) Price Target to $514.00

EMCOR Group (NYSE:EME) had its price target reduced by analysts at Stifel Nicolaus from $600.00 to $514.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 24.69% from the company’s current price.

Several other brokerages have also issued reports on EME. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target for the company. Finally, Northcoast Research initiated coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Price Performance

EME traded down $8.67 during trading on Thursday, hitting $412.21. 117,247 shares of the stock traded hands, compared to its average volume of 499,726. The business has a 50 day moving average price of $460.76 and a 200 day moving average price of $448.49. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 20.94 and a beta of 1.11. EMCOR Group has a twelve month low of $289.51 and a twelve month high of $545.29.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. On average, equities research analysts predict that EMCOR Group will post 20.74 earnings per share for the current year.

EMCOR Group declared that its board has initiated a stock buyback plan on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of EMCOR Group

Institutional investors have recently modified their holdings of the business. Continuum Advisory LLC lifted its holdings in EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock worth $38,000 after buying an additional 29 shares during the period. Summit Securities Group LLC acquired a new position in shares of EMCOR Group in the fourth quarter worth approximately $45,000. True Wealth Design LLC boosted its holdings in EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after acquiring an additional 104 shares during the last quarter. SJS Investment Consulting Inc. increased its position in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after purchasing an additional 94 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in EMCOR Group during the 3rd quarter worth approximately $55,000. 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.