EMCOR Group, Inc. (NYSE:EME) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of EMCOR Group, Inc. (NYSE:EME) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $698.8333.

Several analysts have weighed in on the stock. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Robert W. Baird set a $713.00 price objective on EMCOR Group in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Stifel Nicolaus increased their target price on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, DA Davidson lifted their price target on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st.

EMCOR Group Stock Performance

Shares of EME opened at $807.63 on Wednesday. EMCOR Group has a fifty-two week low of $320.89 and a fifty-two week high of $835.00. The firm has a market cap of $36.16 billion, a price-to-earnings ratio of 32.47 and a beta of 1.17. The firm has a 50 day moving average price of $699.42 and a 200-day moving average price of $661.84.

EMCOR Group declared that its Board of Directors has approved a stock repurchase program on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s payout ratio is presently 6.43%.

Hedge Funds Weigh In On EMCOR Group

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of EMCOR Group by 17.6% during the third quarter. Vanguard Group Inc. now owns 5,332,636 shares of the construction company’s stock worth $3,463,760,000 after purchasing an additional 798,975 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in EMCOR Group by 132,234.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 669,611 shares of the construction company’s stock worth $409,661,000 after buying an additional 669,105 shares during the period. Norges Bank bought a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $344,548,000. Bank of Montreal Can increased its stake in shares of EMCOR Group by 425.8% during the fourth quarter. Bank of Montreal Can now owns 560,477 shares of the construction company’s stock valued at $342,894,000 after buying an additional 453,876 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of EMCOR Group by 34.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,276,966 shares of the construction company’s stock valued at $781,239,000 after acquiring an additional 327,606 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Company Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.