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

StockNews.com lowered shares of EMCOR Group (NYSE:EME) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus began coverage on EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 target price for the company. The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective for the company. Finally, Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $432.94 on Wednesday. The stock has a market capitalization of $19.92 billion, a P/E ratio of 21.99 and a beta of 1.11. The business has a 50-day moving average of $475.53 and a two-hundred day moving average of $444.22. EMCOR Group has a fifty-two week low of $238.94 and a fifty-two week high of $545.29.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 5.08%.

Institutional Investors Weigh In On EMCOR Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its position in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after purchasing an additional 24,541 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of EMCOR Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company’s stock valued at $463,320,000 after buying an additional 25,502 shares during the period. Norges Bank bought a new stake in shares of EMCOR Group in the fourth quarter valued at about $299,855,000. Allspring Global Investments Holdings LLC grew its position in EMCOR Group by 21.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after buying an additional 75,578 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in EMCOR Group by 11.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock valued at $144,016,000 after acquiring an additional 34,226 shares during the period. Institutional investors and hedge funds 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.