EMCOR Group (NYSE:EME) Now Covered by UBS Group

UBS Group assumed coverage on shares of EMCOR Group (NYSE:EME) in a report issued on Friday, MarketBeat reports. The brokerage issued a buy rating and a $570.00 price objective on the construction company’s stock.

A number of other analysts have also commented on the company. Stifel Nicolaus lowered their price objective on EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.60.

EMCOR Group Stock Up 0.5%

Shares of EME stock opened at $477.30 on Friday. The stock has a 50-day moving average price of $433.12 and a 200 day moving average price of $440.30. The firm has a market cap of $21.36 billion, a price-to-earnings ratio of 24.24 and a beta of 1.23. EMCOR Group has a 12 month low of $319.49 and a 12 month high of $545.30.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $4.17 earnings per share. Sell-side analysts predict that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.42%.

EMCOR Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Anthony Guzzi sold 7,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the sale, the chief executive officer now directly owns 208,989 shares of the company’s stock, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the sale, the director now directly owns 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Institutional Trading of EMCOR Group

A number of institutional investors and hedge funds have recently modified their holdings of EME. BankPlus Trust Department increased its stake in shares of EMCOR Group by 200.0% in the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company’s stock valued at $27,000 after acquiring an additional 48 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of EMCOR Group in the 1st quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. acquired a new position in shares of EMCOR Group in the 1st quarter valued at approximately $30,000. Groupe la Francaise grew its position in shares of EMCOR Group by 79.2% in the 1st quarter. Groupe la Francaise now owns 86 shares of the construction company’s stock valued at $33,000 after purchasing an additional 38 shares during the period. Finally, Pandora Wealth Inc. acquired a new position in shares of EMCOR Group in the 1st quarter valued at approximately $37,000. 92.59% of the stock is 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.