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

EMCOR Group (NYSE:EME) had its price objective reduced by equities research analysts at Stifel Nicolaus from $600.00 to $514.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 24.69% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target for the company. Northcoast Research initiated coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. Finally, StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Stock Performance

Shares of NYSE:EME traded down $8.67 during midday trading on Thursday, reaching $412.21. The company’s stock had a trading volume of 117,247 shares, compared to its average volume of 499,726. The firm has a 50 day moving average price of $460.76 and a two-hundred day moving average price of $448.49. EMCOR Group has a fifty-two week low of $289.51 and a fifty-two week high of $545.29. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 20.94 and a beta of 1.11.

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

EMCOR Group announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently added to or reduced their stakes in the stock. Continuum Advisory LLC raised its stake in shares of EMCOR Group by 53.7% in 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 bought a new stake in EMCOR Group during the fourth quarter worth $45,000. True Wealth Design LLC raised its position in EMCOR Group by 3,466.7% in the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after buying an additional 104 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in EMCOR Group during the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.