EMCOR Group (NYSE:EME) Lowered to Buy at StockNews.com

StockNews.com cut shares of EMCOR Group (NYSE:EME) from a strong-buy rating to a buy rating in a research note released on Friday.

Separately, DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a buy rating in a report on Friday, July 26th.

EMCOR Group Stock Up 1.3 %

Shares of EME opened at $435.60 on Friday. The stock has a 50 day moving average price of $373.10 and a 200 day moving average price of $366.69. The company has a market capitalization of $20.47 billion, a price-to-earnings ratio of 28.73 and a beta of 1.07. EMCOR Group has a 52-week low of $191.50 and a 52-week high of $437.10.

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

EMCOR Group announced that its board has approved a stock buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s payout ratio is currently 6.60%.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, the director now owns 8,637 shares in the company, valued at $3,202,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EME. Matrix Trust Co purchased a new position in EMCOR Group in the second quarter worth $26,000. Proffitt & Goodson Inc. purchased a new position in EMCOR Group in the second quarter worth $27,000. Innealta Capital LLC purchased a new position in EMCOR Group in the second quarter worth $29,000. ORG Partners LLC purchased a new position in EMCOR Group in the second quarter worth $31,000. Finally, Independence Bank of Kentucky purchased a new position in EMCOR Group in the first quarter worth $33,000. Hedge funds and other 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.