Share price of EMCOR Group Inc. (EME) increased marginally by 0.1% after its subsidiary Harry Pepper Associates, Inc. (:HPA) announced on Friday that it has received a demolition and reconstruction award from the U.S. Army Corps of Engineers for their Herbert Hoover Dike in Okeechobee and Palm Beach Counties in Florida.
The scope of the contract requires Harry Pepper Associates to construct a couple of water control structures after flattening and removing the existing Herbert Hoover Dike Culverts (8 and 13). The new structures will be replacing the existing ones at their respective locations.
Harry Pepper Associates will have to install cofferdams to temporarily dry the area to allow new construction. The company will be installing an earthen cofferdam in the Lake Okeechobee, whereas for the landside off culverts, it will use cofferdams made from steel sheet pile. The project has to be executed taking care of its extensive specifications. Thus, Emcor Group’s diverse skills and experience will be a positive.
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). Other better placed stocks worth considering at the moment include Jiangsu Expressway Co. Ltd. (JEXYY), Jacobs Engineering Group Inc. (JEC) and Quanta Services, Inc. (PWR). All three carry a Zacks Rank #2 (Buy).