Leading construction and manufacturing company, Emcor Group Inc. (EME), has announced a contract win by one of its subsidiaries – Harry Pepper & Associates, Inc. – from the Florida Inland Navigation District. Per the contract, Emcor’s subsidiary is required to construct a dredged material management area in Flagler Country, FL. The financial terms of the deal were however kept under wraps.
The dredged material management area construction will also involve the construction of a permanent perimeter and site bypass along with road site clearing and grubbing, as well as fencing. The contract requires Emcor to provide everything from fabrication to installation of steel box weirs and related structure. This apart the company will also be undertaking the installation of several piping and culverts while also taking care of the landscape.
In a separate development, another subsidiary of Emcor – EMCOR Government Services (EGS) – received a contract in Jun 2014 for operation, maintenance and systems repair of Virginia-based Fort Belvoir Community Hospital and the Northern Region Medical Command building in Fort Belvoir.
The current contract with Harry Pepper & Associates adds on to the company’s backlog for the third quarter. In the last reported quarter (second-quarter 2014), Emcor’s total backlog climbed 3.6% year over year to $3.64 billion while domestic backlog grew by $138 million, including backlog growth in the U.S. Electrical and Mechanical Construction segments and the U.S. Industrial Services segment.
Emcor currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the building and heavy construction sector include Willdan Inc. (WLDN), VSE Corp. (VSEC) and ITT Corp. (ITT). All three carry a Zacks Rank # 2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment