EMCOR Group (NYSE:EME) Hits New 52-Week High at $441.04

EMCOR Group, Inc. (NYSE:EME)’s stock price hit 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 traded. The stock had previously closed at $435.60.

Wall Street Analysts Forecast Growth

EME has been the topic of a number of research analyst reports. DA Davidson increased their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday.

EMCOR Group Price Performance

The business has a 50-day moving average of $373.10 and a 200 day moving average of $366.69. The company has a market capitalization of $20.51 billion, a PE ratio of 28.73 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. EMCOR Group’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 earnings per share. As a group, research analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

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

EMCOR Group announced that its board has initiated a share buyback program on Friday, June 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now directly owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.26% of the company’s stock.

Institutional Investors Weigh In On EMCOR Group

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

About EMCOR Group

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.