UBS Group Issues Positive Forecast for EMCOR Group (NYSE:EME) Stock Price

Key Points

• UBS Group raised its target price for EMCOR Group from $570.00 to $715.00, indicating a potential upside of 15.46% from its previous close.
• Several analysts have given EMCOR Group a consensus rating of "Moderate Buy", with nine analysts recommending a buy and only one a sell.
• EMCOR Group reported a quarterly earnings per share of $5.41, exceeding estimates, with a year-over-year revenue increase of 12.7% to $3.87 billion.
• Insiders sold shares recently, with CEO Anthony Guzzi reducing his ownership by 3.24% through the sale of 7,000 shares, valued at over $3 million.

EMCOR Group (NYSE:EME - Get Free Report) had its price target increased by research analysts at UBS Group from $570.00 to $715.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. UBS Group's price objective would suggest a potential upside of 13.10% from the stock's current price.

A number of other analysts also recently issued reports on the company. TD Securities began coverage on EMCOR Group in a research report on Friday, June 27th. They issued a "buy" rating for the company. Jefferies Financial Group began coverage on shares of EMCOR Group in a report on Friday, June 27th. They set a "buy" rating on the stock. Hovde Group upgraded shares of EMCOR Group to a "hold" rating in a report on Friday, June 27th. Robert W. Baird began coverage on shares of EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating and a $560.00 price target on the stock. Finally, William Blair began coverage on shares of EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EMCOR Group presently has a consensus rating of "Moderate Buy" and an average price target of $581.40.

EMCOR Group Price Performance

Shares of NYSE:EME traded down $2.85 during mid-day trading on Friday, reaching $632.21. The stock had a trading volume of 578,338 shares, compared to its average volume of 497,454. The business's 50 day moving average price is $511.12 and its 200 day moving average price is $451.54. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The company has a market cap of $28.30 billion, a P/E ratio of 27.94 and a beta of 1.24. EMCOR Group has a 1 year low of $319.49 and a 1 year high of $641.96.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The business's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.17 EPS. Research analysts expect that EMCOR Group will post 20.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the transaction, the director directly owned 7,094 shares in the company, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the transaction, the chief executive officer owned 208,989 shares in the company, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EMCOR Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Equitable Trust Co. lifted its stake in shares of EMCOR Group by 48.1% during the second quarter. Equitable Trust Co. now owns 3,391 shares of the construction company's stock worth $1,814,000 after buying an additional 1,102 shares during the period. TD Asset Management Inc raised its holdings in shares of EMCOR Group by 5.2% during the second quarter. TD Asset Management Inc now owns 254,845 shares of the construction company's stock worth $136,314,000 after purchasing an additional 12,684 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of EMCOR Group by 3.2% during the second quarter. Wilmington Savings Fund Society FSB now owns 1,976 shares of the construction company's stock worth $1,057,000 after purchasing an additional 61 shares during the last quarter. Kiker Wealth Management LLC purchased a new position in shares of EMCOR Group during the second quarter worth $1,396,000. Finally, RFG Advisory LLC raised its holdings in shares of EMCOR Group by 1.7% during the second quarter. RFG Advisory LLC now owns 6,502 shares of the construction company's stock worth $3,478,000 after purchasing an additional 107 shares during the last quarter. 92.59% of the stock is currently 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.