EMCOR Group (NYSE:EME) Sets New 12-Month High at $402.91

Shares of EMCOR Group, Inc. (NYSE:EME) hit a new 52-week high on Monday . The stock traded as high as $402.91 and last traded at $402.60, with a volume of 92540 shares changing hands. The stock had previously closed at $396.42.

Analyst Ratings Changes

Separately, DA Davidson raised their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Price Performance

The firm has a 50 day simple moving average of $370.82 and a 200-day simple moving average of $364.88. The company has a market cap of $19.21 billion, a price-to-earnings ratio of 26.97 and a beta of 1.07.

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

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

EMCOR Group announced that its Board of Directors has approved a share buyback plan on Friday, June 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related 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 owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.26% of the company’s stock.

Institutional Investors Weigh In On EMCOR Group

Several hedge funds have recently made changes to their positions in EME. Avantax Advisory Services Inc. acquired a new position in shares of EMCOR Group in the 4th quarter valued at about $219,000. Janney Montgomery Scott LLC grew its position in shares of EMCOR Group by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,158 shares of the construction company’s stock valued at $1,542,000 after buying an additional 85 shares during the last quarter. ING Groep NV boosted its stake in EMCOR Group by 156.8% in the fourth quarter. ING Groep NV now owns 19,000 shares of the construction company’s stock valued at $4,093,000 after acquiring an additional 11,600 shares during the period. Norges Bank bought a new position in shares of EMCOR Group during the fourth quarter valued at approximately $153,739,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of EMCOR Group in the 4th quarter worth approximately $441,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.