EMCOR Group (NYSE:EME) Price Target Raised to $135.00

EMCOR Group (NYSE:EMEGet Rating) had its price target raised by KeyCorp from $125.00 to $135.00 in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price suggests a potential upside of 17.04% from the stock’s current price. KeyCorp also issued estimates for EMCOR Group’s Q4 2022 earnings at $2.27 EPS, FY2022 earnings at $7.80 EPS, FY2023 earnings at $8.97 EPS and FY2024 earnings at $9.81 EPS.

Several other analysts have also recently issued reports on EME. Sidoti raised shares of EMCOR Group from a “neutral” rating to a “buy” rating and set a $137.00 price objective for the company in a research note on Monday, May 16th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, EMCOR Group presently has an average rating of “Buy” and a consensus target price of $138.75.

EMCOR Group Stock Down 1.5 %

NYSE:EME opened at $115.35 on Monday. EMCOR Group has a 1-year low of $95.64 and a 1-year high of $135.98. The company has a 50-day moving average of $104.66 and a 200 day moving average of $110.38. The firm has a market cap of $5.69 billion, a PE ratio of 16.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.30 and a quick ratio of 1.26.

EMCOR Group (NYSE:EMEGet Rating) last released its quarterly earnings results on Thursday, July 28th. The construction company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.68 by $0.31. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.60 billion. EMCOR Group had a net margin of 3.59% and a return on equity of 17.70%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. As a group, research analysts anticipate that EMCOR Group will post 7.69 EPS for the current fiscal year.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Carol P. Lowe sold 1,975 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $102.55, for a total value of $202,536.25. Following the transaction, the director now owns 16,722 shares in the company, valued at approximately $1,714,841.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. acquired a new position in shares of EMCOR Group during the 4th quarter worth $419,000. State of Michigan Retirement System increased its stake in shares of EMCOR Group by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 13,535 shares of the construction company’s stock worth $1,724,000 after purchasing an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of EMCOR Group during the 4th quarter worth $28,088,000. State of New Jersey Common Pension Fund D increased its stake in shares of EMCOR Group by 5.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 26,486 shares of the construction company’s stock worth $3,374,000 after purchasing an additional 1,399 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in shares of EMCOR Group by 27.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 16,042 shares of the construction company’s stock worth $2,044,000 after purchasing an additional 3,407 shares during the last quarter. Institutional investors and hedge funds own 94.36% of the company’s stock.

About EMCOR Group

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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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