Stifel Nicolaus Issues Pessimistic Forecast for EMCOR Group (NYSE:EME) Stock Price

EMCOR Group (NYSE:EME) had its price objective dropped by equities research analysts at Stifel Nicolaus from $600.00 to $514.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 25.88% from the stock’s current price.

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

EMCOR Group Stock Up 1.4 %

Shares of EMCOR Group stock opened at $408.33 on Thursday. The company has a 50-day simple moving average of $459.53 and a two-hundred day simple moving average of $448.17. EMCOR Group has a twelve month low of $305.89 and a twelve month high of $545.29. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 20.74 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. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. On average, sell-side analysts anticipate that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its board has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On EMCOR Group

Several hedge funds and other institutional investors have recently made changes to their positions in EME. Koshinski Asset Management Inc. boosted its position in EMCOR Group by 4.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock valued at $298,000 after buying an additional 26 shares in the last quarter. Cumberland Partners Ltd boosted its holdings in shares of EMCOR Group by 60.0% during the 3rd quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock valued at $1,722,000 after acquiring an additional 1,500 shares in the last quarter. Wolff Wiese Magana LLC grew its position in EMCOR Group by 3,510.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock worth $311,000 after acquiring an additional 667 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in EMCOR Group by 173.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company’s stock worth $23,473,000 after purchasing an additional 34,553 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in EMCOR Group by 25.0% in the third quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock valued at $2,261,000 after purchasing an additional 1,049 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

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.