EMCOR Group (NYSE:EME) Reaches New 1-Year High at $441.04

EMCOR Group, Inc. (NYSE:EME)’s stock price reached a new 52-week high on Monday . The company traded as high as $441.04 and last traded at $440.14, with a volume of 11649 shares changing hands. The stock had previously closed at $435.60.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. DA Davidson lifted their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday.

EMCOR Group Stock Up 0.2 %

The stock has a market cap of $20.51 billion, a price-to-earnings ratio of 28.73 and a beta of 1.07. The company has a 50 day simple moving average of $373.10 and a 200-day simple moving average of $366.69.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the company earned $2.95 EPS. EMCOR Group’s revenue was up 20.4% on a year-over-year basis. On average, equities research analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

EMCOR Group announced that its Board of Directors has initiated a stock buyback plan on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On EMCOR Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Matrix Trust Co acquired a new position in EMCOR Group during the second quarter worth approximately $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group during the 2nd quarter valued at $27,000. Innealta Capital LLC bought a new position in EMCOR Group in the 2nd quarter valued at about $29,000. ORG Partners LLC acquired a new position in EMCOR Group during the second quarter valued at approximately $31,000. Finally, Independence Bank of Kentucky bought a new stake in shares of EMCOR Group during the 1st quarter worth $33,000. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.