EMCOR Group (NYSE:EME) Hits New 1-Year High at $402.91

EMCOR Group, Inc. (NYSE:EME)’s share price reached 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 Upgrades and Downgrades

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 report on Friday, July 26th.

EMCOR Group Price Performance

The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of 26.47 and a beta of 1.07. The firm has a 50-day moving average price of $368.41 and a two-hundred day moving average price of $363.31.

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

EMCOR Group Announces Dividend

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

EMCOR Group announced that its board has initiated a share repurchase plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’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 completion of the transaction, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EMCOR Group

Large investors have recently made changes to their positions in the stock. Matrix Trust Co bought a new stake in EMCOR Group during the second quarter worth $26,000. Proffitt & Goodson Inc. acquired a new position in shares of EMCOR Group during the 2nd quarter worth about $27,000. V Square Quantitative Management LLC bought a new stake in shares of EMCOR Group in the 1st quarter valued at about $28,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group in the 2nd quarter valued at about $29,000. Finally, ORG Partners LLC acquired a new stake in EMCOR Group in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.