EMCOR Group Inc. (EME) announced on Monday that its subsidiary Poole & Kent Company of Florida has received a contract for upgrading the Springtree Water Treatment Plant in Florida for an undisclosed amount. Following the news, the company’s share prices increased marginally by 0.9% to close at $40.40 on Tuesday.
The contract awarded by the City of Sunrise entails EMCOR Group to provide core services for the construction project that includes constructing a service pump station, along with a new building for the water plant. The service pump station will consist of a number of huge vertical turbine pumps and the relevant electrical, instrumentation, and control systems required for construction.
Additionally, EMCOR Group will also be responsible for demolishing some of the existing plant structure and will undertake the task of modifying the existing gateways, yard piping, paving and grading. The company will also equip the new structure with irrigation, landscaping and drainage system apart from integrating the existing and new infrastructure.
EMCOR Group is a leading construction and manufacturing company specializing in electrical facilities, energy infrastructure and LEED (Leadership in Energy and Environmental Design) construction along with designing and manufacturing life saving facilities. The company’s core area of expertise includes planning and installing critical infrastructure systems by providing high quality commercial services that are aimed to extend the life of new and existing structures.
EMCOR Group currently has Zacks Rank #5 (Strong Sell). Some other stocks within the sector that are worth mentioning include VSE Corp. (VSEC), which carries a Zacks Rank #1 (Strong Buy), and Jiangsu Expressway Co. Ltd. (JEXYY) and Rexnord Corporation (RXN), each carrying a Zacks Rank #2 (Buy).
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