EMCOR Group (NYSE:EME) Given New $920.00 Price Target at Cantor Fitzgerald

EMCOR Group (NYSE:EME) had its target price lowered by research analysts at Cantor Fitzgerald from $1,047.00 to $920.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Cantor Fitzgerald‘s target price indicates a potential upside of 35.88% from the company’s previous close.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group decreased their price target on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. Weiss Ratings cut shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. DA Davidson set a $1,047.00 target price on shares of EMCOR Group in a research report on Monday, August 10th. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Robert W. Baird upped their target price on shares of EMCOR Group from $900.00 to $918.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $980.43.

EMCOR Group Stock Down 0.4%

Shares of NYSE EME opened at $677.08 on Monday. The company’s fifty day simple moving average is $742.75 and its 200 day simple moving average is $779.57. The firm has a market cap of $29.64 billion, a PE ratio of 19.56 and a beta of 1.16. EMCOR Group has a 12-month low of $564.92 and a 12-month high of $951.96.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 EPS for the quarter, beating the consensus estimate of $8.37 by $1.23. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The firm had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $6.57 earnings per share. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, equities analysts predict that EMCOR Group will post 35.00 earnings per share for the current year.

EMCOR Group declared that its board has authorized a share repurchase plan on Thursday, October 29th that permits the company to buy back $500 million in shares. This buyback authorization permits the construction company to repurchase up to 1.7% of its shares through open market purchases. Share buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EME. BlackRock Inc. bought a new position in shares of EMCOR Group during the 2nd quarter valued at approximately $3,416,412,000. Deutsche Bank AG purchased a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $342,273,000. Bank of America Corp DE bought a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $282,509,000. Bank of New York Mellon Corp bought a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $207,597,000. Finally, Legal & General Group Plc purchased a new position in EMCOR Group in the second quarter valued at approximately $168,025,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

About EMCOR Group

EMCOR Group, Inc provides construction, engineering, and building services through a network of specialty contracting businesses. Its core activities include electrical and mechanical construction, energy infrastructure, building systems, facilities services, and industrial maintenance. The company serves commercial, institutional, industrial, manufacturing, healthcare, education, government, and infrastructure customers.

Its services cover the design, installation, operation, maintenance, and upgrading of electrical, heating, ventilation, air-conditioning, plumbing, fire protection, and building automation systems.