EMCOR Group (NYSE:EME) Reaches New 52-Week High – Here’s What Happened

EMCOR Group, Inc. (NYSE:EME)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $785.73 and last traded at $786.0150, with a volume of 77077 shares. The stock had previously closed at $764.35.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus upped their price target on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th. DA Davidson lifted their price objective on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Performance

The firm has a market capitalization of $34.81 billion, a P/E ratio of 31.26 and a beta of 1.17. The firm’s 50-day moving average is $657.89 and its 200 day moving average is $647.27.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were given a dividend of $0.40 per share. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s payout ratio is currently 6.43%.

EMCOR Group declared that its board has initiated a share buyback program on Thursday, December 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Institutional Trading of EMCOR Group

A number of institutional investors have recently made changes to their positions in the business. Barnes Dennig Private Wealth Management LLC bought a new stake in EMCOR Group during the 4th quarter worth about $26,000. Main Street Group LTD raised its holdings in EMCOR Group by 110.0% during the third quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock worth $27,000 after acquiring an additional 22 shares in the last quarter. Quent Capital LLC bought a new stake in EMCOR Group during the third quarter worth about $29,000. Orion Capital Management LLC bought a new position in EMCOR Group in the third quarter valued at approximately $31,000. Finally, Activest Wealth Management increased its position in shares of EMCOR Group by 800.0% during the 4th quarter. Activest Wealth Management now owns 54 shares of the construction company’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. 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.