10 Best Stocks to Buy According to Navellier & Associates

3. Emcor Group Inc. (NYSE:EME)

Navellier & Associates’ Stake Value: $22,488,793 

Number of Hedge Fund Holders: 41

Ranking 3rd in Navellier & Associates’ top 10 stock picks is Emcor Group Inc. (NYSE:EME).  Emcor Group Inc. (NYSE:EME) is a leading company in mechanical and electrical construction and facilities management. Established in 1994 and based in Norwalk, Connecticut, Emcor Group Inc. (NYSE:EME) works in many areas, including commercial, industrial, and institutional markets. In Q1 2024, Emcor Group Inc. (NYSE:EME)’s margins improved due to better performance in U.S. construction, including a favorable revenue mix, improved project execution, and strong pricing. Investments in virtual design, prefabrication, and automation also boosted productivity, leading to a 210 basis point increase in gross margin to 17.2% and a 220 basis point increase in adjusted operating margin to 7.6%.

GS Analytics sees strong growth potential for Emcor Group Inc. (NYSE:EME) both in the short and long term. Emcor Group Inc. (NYSE:EME) is trading at 23.22 times the FY24 EPS estimate of $16.25 and 21.82 times the FY25 EPS estimate of $17.29. Earnings per share (EPS) are expected to rise by 21.78% this year and 6.43% next year, while revenue is projected to grow by 14.11% this year and 7.69% by 2025. By the end of Q1 2024, Navellier & Associates reported holding 64,217 shares of Emcor Group Inc. (NYSE:EME), valued at $22,488,793. This investment made up 2.77% of their total portfolio.

TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding EMCOR Group, Inc. (NYSE:EME) in its first quarter 2024 investor letter:

“Many of our Industrial positions provide necessary business-to-business operational services, highly technical components, automation & efficiency improvements, or essential infrastructure services. EMCOR Group, Inc. (NYSE:EME) supplies electrical, mechanical, and facilities services. The company’s strong results fueled a 62% increase in the stock price. Highlights from the quarter included improved margins and a record level of backlog. We trimmed the position on this strength.”