EMCOR Group (NYSE:EME) PT Raised to $430.00

EMCOR Group (NYSE:EME) had its price objective lifted by DA Davidson from $410.00 to $430.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

EMCOR Group Stock Down 0.3 %

Shares of NYSE EME opened at $362.83 on Friday. The business has a fifty day simple moving average of $376.29 and a two-hundred day simple moving average of $332.59. The firm has a market cap of $16.93 billion, a PE ratio of 23.93 and a beta of 1.06. EMCOR Group has a twelve month low of $191.50 and a twelve month high of $401.98.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business posted $2.95 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that EMCOR Group will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th will be issued a $0.25 dividend. The ex-dividend date is Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. EMCOR Group’s dividend payout ratio is presently 6.60%.

Insider Activity

In related news, Director Carol P. Lowe sold 1,245 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the transaction, the director now directly owns 16,807 shares in the company, valued at approximately $6,289,683.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in EMCOR Group during the 2nd quarter worth $29,000. Panagora Asset Management Inc. lifted its position in EMCOR Group by 155.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after acquiring an additional 126,148 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EMCOR Group by 40.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,831 shares of the construction company’s stock worth $5,049,000 after acquiring an additional 3,963 shares during the period. Ameritas Advisory Services LLC acquired a new stake in EMCOR Group during the 2nd quarter worth about $222,000. Finally, Arkadios Wealth Advisors acquired a new stake in EMCOR Group during the 2nd quarter worth about $201,000. 92.59% of the stock is currently owned by hedge funds and other 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.