EMCOR Group (NYSE:EME) Earns Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of EMCOR Group (NYSE:EME) in a research note published on Friday, Benzinga reports. DA Davidson currently has a $375.00 price objective on the construction company’s stock.

Separately, KeyCorp assumed coverage on shares of EMCOR Group in a research note on Wednesday, January 10th. They set a sector weight rating for the company.

EMCOR Group Price Performance

Shares of EME opened at $347.13 on Friday. EMCOR Group has a one year low of $151.52 and a one year high of $349.74. The company has a 50-day simple moving average of $272.82 and a two-hundred day simple moving average of $233.06. The firm has a market capitalization of $16.34 billion, a PE ratio of 26.08 and a beta of 1.09.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 EPS for the quarter, topping the consensus estimate of $3.51 by $0.96. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the business posted $2.63 earnings per share. EMCOR Group’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts expect that EMCOR Group will post 14.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, January 12th. EMCOR Group’s dividend payout ratio (DPR) is currently 5.41%.

Insider Activity at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the sale, the chief executive officer now owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On EMCOR Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in shares of EMCOR Group by 83.8% during the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after acquiring an additional 62 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of EMCOR Group during the 2nd quarter worth $25,000. Arlington Trust Co LLC purchased a new position in shares of EMCOR Group during the 3rd quarter worth $35,000. CVA Family Office LLC purchased a new position in shares of EMCOR Group during the 4th quarter valued at $39,000. Finally, Evermay Wealth Management LLC purchased a new position in shares of EMCOR Group during the 4th quarter valued at $39,000. 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.