Emcor Group (EME) Stock Rating Upgraded by DA Davidson

Emcor Group (NYSE:EME) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $83.00 target price on the construction company’s stock. DA Davidson’s target price would indicate a potential upside of 18.35% from the stock’s current price. The analysts noted that the move was a valuation call.

EME has been the topic of several other research reports. Zacks Investment Research upgraded shares of Emcor Group from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Monday, October 1st. ValuEngine lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $84.67.

EME stock opened at $70.13 on Thursday. Emcor Group has a 12-month low of $63.81 and a 12-month high of $85.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.46 and a quick ratio of 1.43. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 0.96 and a beta of 0.93.



Emcor Group (NYSE:EME) last announced its quarterly earnings results on Thursday, October 25th. The construction company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.12. Emcor Group had a net margin of 3.15% and a return on equity of 15.44%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.95 billion. On average, research analysts expect that Emcor Group will post 4.75 earnings per share for the current fiscal year.

Emcor Group declared that its Board of Directors has approved a stock buyback program on Thursday, October 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Jerry E. Ryan sold 2,000 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $78.10, for a total transaction of $156,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Anthony Guzzi sold 23,434 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $76.55, for a total transaction of $1,793,872.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,434 shares of company stock worth $3,166,873. 2.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Emcor Group by 3.2% in the 2nd quarter. BlackRock Inc. now owns 6,483,730 shares of the construction company’s stock valued at $493,931,000 after buying an additional 202,856 shares during the last quarter. Victory Capital Management Inc. grew its stake in Emcor Group by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,084,231 shares of the construction company’s stock valued at $158,777,000 after buying an additional 33,662 shares during the last quarter. Voya Investment Management LLC grew its stake in Emcor Group by 11.1% in the 2nd quarter. Voya Investment Management LLC now owns 1,098,299 shares of the construction company’s stock valued at $83,668,000 after buying an additional 109,762 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Emcor Group by 2.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 896,098 shares of the construction company’s stock valued at $68,265,000 after buying an additional 21,903 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Emcor Group by 3.3% in the 2nd quarter. Glenmede Trust Co. NA now owns 698,254 shares of the construction company’s stock valued at $53,193,000 after buying an additional 22,212 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.

About Emcor Group

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services in the United States. The company designs, integrates, installs, starts-up, operates, and maintains electric power transmission and distribution systems; premises electrical and lighting systems; process instrumentation in the refining, chemical process, food process, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, and controls and filtration systems; roadway and transit lighting and fiber-optic lines; heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems; plumbing, processing, and piping systems; and central plant heating and cooling systems, as well as offers cranes and rigging, millwrighting, and steel fabrication, erection, and welding services.

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