EMCOR Group Inc.’s (EME - Analyst Report) subsidiary, S.A. Comunale, was recently awarded a contract for installation of fire protection and mechanical systems at Northeast Ohio Medical University Health and Wellness Center in Rootstown, Ohio, for an undisclosed amount.
With a rich experience in mechanical, fire protection & HVAC (heating, ventilation, and air conditioning) services, S.A. Comunale is a leading player in its category. The company provides services in literally every market sector and facility type and has its branch offices spread across 16 locations across the country.
Under the terms of the agreement, S.A. Comunale will design and install a complete fire protection system for the exterior as well as the interior of the building spread over an area of 176,000 square feet. The company will also be responsible for the installation and design of all related underground plumbing, HVAC and piping systems at Ohio’s new medical facility.
EMCOR has been lately winning back-to-back contracts through its subsidiaries. A couple of days back its subsidiary, EMCOR Government Services, procured a contract to operate and maintain the new headquarters of Coast Guard at the Government Service Administration’s St. Elizabeth's Campus in Washington, D.C.
Last month, EMCOR’s subsidiary Poole & Kent Company of Florida also received a contract to install a reverse osmosis water plant in Clearwater, Florida. Additionally, in May, its subsidiary Dynalectric Company was awarded a contract to install electrical systems at the Georgia Gwinnett College new Allied Health and Science Building in Lawrenceville, Georgia.
The series of contract wins by EMCOR seems to have boosted investor confidence, with its stock prices hitting new 52-week highs over last few months. The stock hit a new high of $43.55 on Jul 11, 2013.
This leading mechanical and electrical construction, energy infrastructure, and facilities services provider currently carries a Zacks #1 (Strong Buy).
Some other stocks with a similar rank as EMCOR worth adding to the portfolio include Chicago Bridge & Iron Company N.V. (CBI - Analyst Report), Dycom Industries Inc. (DY - Analyst Report) and Comfort Systems USA Inc. (FIX - Snapshot Report).