Stifel Nicolaus Cuts EMCOR Group (NYSE:EME) Price Target to $514.00

EMCOR Group (NYSE:EME) had its target price decreased by Stifel Nicolaus from $600.00 to $514.00 in a research note published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Northcoast Research started coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Trading Up 1.4 %

Shares of NYSE:EME opened at $408.33 on Thursday. The business has a 50-day moving average price of $458.38 and a 200 day moving average price of $448.53. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 20.74 and a beta of 1.11. EMCOR Group has a 12-month low of $305.89 and a 12-month high of $545.29.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, equities research analysts predict that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is presently 5.08%.

Hedge Funds Weigh In On EMCOR Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Continuum Advisory LLC lifted its stake in EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock worth $38,000 after purchasing an additional 29 shares during the last quarter. Summit Securities Group LLC purchased a new stake in EMCOR Group during the fourth quarter worth approximately $45,000. True Wealth Design LLC lifted its stake in EMCOR Group by 3,466.7% during the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in EMCOR Group in the fourth quarter valued at approximately $48,000. Finally, SJS Investment Consulting Inc. lifted its stake in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after buying an additional 94 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

About EMCOR Group

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.