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

StockNews.com cut shares of EMCOR Group (NYSE:EMEGet Rating) from a strong-buy rating to a buy rating in a report issued on Monday.

EME has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of EMCOR Group from a sell rating to a hold rating and set a $118.00 price objective for the company in a report on Wednesday, March 9th. DA Davidson upgraded shares of EMCOR Group from a neutral rating to a buy rating and set a $142.00 price objective for the company in a report on Friday, February 25th.

EME opened at $105.71 on Monday. The company’s 50 day moving average is $114.58 and its 200-day moving average is $119.95. EMCOR Group has a 1-year low of $104.23 and a 1-year high of $135.98. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.57 billion, a P/E ratio of 15.30 and a beta of 1.22.

EMCOR Group (NYSE:EMEGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The construction company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.17). EMCOR Group had a net margin of 3.65% and a return on equity of 17.21%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business posted $1.54 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts forecast that EMCOR Group will post 7.62 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Monday, April 18th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, April 14th. This represents a $0.52 annualized dividend and a yield of 0.49%. EMCOR Group’s payout ratio is 7.53%.

In other EMCOR Group news, CEO Anthony Guzzi sold 1,381 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $120.00, for a total transaction of $165,720.00. Following the completion of the transaction, the chief executive officer now owns 291,256 shares in the company, valued at approximately $34,950,720. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in EME. CWM LLC bought a new position in EMCOR Group during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. raised its holdings in EMCOR Group by 276.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 267 shares of the construction company’s stock worth $34,000 after purchasing an additional 196 shares during the last quarter. MUFG Americas Holdings Corp bought a new position in EMCOR Group during the 3rd quarter worth approximately $44,000. First Horizon Advisors Inc. raised its holdings in EMCOR Group by 156.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,034 shares of the construction company’s stock worth $52,000 after purchasing an additional 631 shares during the last quarter. Finally, Kings Point Capital Management bought a new position in EMCOR Group during the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 94.36% of the company’s stock.

About EMCOR Group (Get Rating)

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, starts-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; 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.

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