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

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

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

Check Out Our Latest Analysis on EME

EMCOR Group Stock Performance

NYSE:EME opened at $347.98 on Friday. The stock has a 50-day simple moving average of $270.26 and a 200-day simple moving average of $232.04. The stock has a market cap of $16.38 billion, a P/E ratio of 26.14 and a beta of 1.09. EMCOR Group has a 1 year low of $151.52 and a 1 year high of $349.74.

EMCOR Group (NYSE:EMEGet Free Report) last announced its earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.96. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.36 billion. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.63 EPS. On average, equities research analysts predict that EMCOR Group will post 14.5 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis 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 5.41%.

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On EMCOR Group

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in EMCOR Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 6,152,648 shares of the construction company’s stock valued at $1,000,359,000 after purchasing an additional 47,507 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in EMCOR Group by 2.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,565,326 shares of the construction company’s stock valued at $579,687,000 after buying an additional 82,360 shares during the last quarter. FMR LLC grew its holdings in EMCOR Group by 7.3% during the 3rd quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock valued at $747,239,000 after buying an additional 241,920 shares during the last quarter. State Street Corp grew its holdings in EMCOR Group by 3.6% during the 1st quarter. State Street Corp now owns 1,744,930 shares of the construction company’s stock valued at $196,531,000 after buying an additional 61,165 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in EMCOR Group by 41.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company’s stock valued at $224,813,000 after buying an additional 310,718 shares during the last quarter. 92.57% of the stock is owned by hedge funds and other institutional investors.

About EMCOR Group

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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.

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