The Goldman Sachs Group Issues Positive Forecast for EMCOR Group (NYSE:EME) Stock Price

EMCOR Group (NYSE:EME - Get Free Report) had its price objective raised by stock analysts at The Goldman Sachs Group from $384.00 to $435.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "sell" rating on the construction company's stock. The Goldman Sachs Group's price objective would suggest a potential downside of 20.18% from the company's current price.

Other analysts also recently issued reports about the company. Robert W. Baird began coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating and a $560.00 target price for the company. William Blair began coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating for the company. UBS Group began coverage on EMCOR Group in a research report on Friday, June 13th. They set a "buy" rating and a $570.00 target price for the company. Jefferies Financial Group initiated coverage on EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating for the company. Finally, Baird R W raised EMCOR Group to a "strong-buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EMCOR Group currently has a consensus rating of "Moderate Buy" and an average price target of $516.33.

EMCOR Group Stock Performance

NYSE EME traded down $6.19 on Tuesday, reaching $544.95. The stock had a trading volume of 154,349 shares, compared to its average volume of 511,716. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a fifty day moving average of $476.84 and a two-hundred day moving average of $441.92. EMCOR Group has a 1-year low of $319.49 and a 1-year high of $553.97. The company has a market cap of $24.39 billion, a P/E ratio of 24.08 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm posted $4.17 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that EMCOR Group will post 20.74 EPS for the current year.

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the sale, the chief executive officer directly owned 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director directly owned 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.83% of the company's stock.

Hedge Funds Weigh In On EMCOR Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. lifted its stake in shares of EMCOR Group by 0.7% in the second quarter. NBC Securities Inc. now owns 3,170 shares of the construction company's stock worth $1,695,000 after acquiring an additional 23 shares during the period. Lingohr Asset Management GmbH bought a new stake in EMCOR Group in the second quarter worth approximately $339,000. Modus Advisors LLC increased its holdings in EMCOR Group by 1.3% in the second quarter. Modus Advisors LLC now owns 2,784 shares of the construction company's stock worth $1,489,000 after purchasing an additional 35 shares in the last quarter. OMNI 360 Wealth Inc. bought a new stake in EMCOR Group in the second quarter worth approximately $217,000. Finally, McLean Asset Management Corp increased its holdings in EMCOR Group by 2.8% in the second quarter. McLean Asset Management Corp now owns 700 shares of the construction company's stock worth $379,000 after purchasing an additional 19 shares in 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.

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