EMCOR Group (NYSE:EME) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of EMCOR Group (NYSE:EME) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

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

EMCOR Group Stock Performance

NYSE:EME opened at $450.45 on Wednesday. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 29.71 and a beta of 1.07. EMCOR Group has a 1 year low of $191.50 and a 1 year high of $450.55. The stock has a fifty day moving average price of $393.89 and a two-hundred day moving average price of $377.04.

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. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 EPS. On average, analysts predict that EMCOR Group will post 19.5 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. EMCOR Group’s payout ratio is 6.60%.

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EMCOR Group

A number of hedge funds and other institutional investors have recently modified their holdings of EME. Acadian Asset Management LLC boosted its position in EMCOR Group by 55.6% during the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after acquiring an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after purchasing an additional 126,148 shares during the period. Renaissance Technologies LLC grew its position in shares of EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after purchasing an additional 91,837 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in EMCOR Group by 27.5% during the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after buying an additional 88,909 shares during the period. 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.