EMCOR Group (NYSE:EME) Hits New 52-Week High – Should You Buy?

Shares of EMCOR Group, Inc. (NYSE:EME) 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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research report on Friday, October 31st. 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. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus increased their price target on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Price Performance

The company has a fifty day moving average price of $668.54 and a two-hundred day moving average price of $650.76. The company has a market capitalization of $36.02 billion, a P/E ratio of 32.35 and a beta of 1.17.

EMCOR Group Increases Dividend

The business 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 represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. EMCOR Group’s dividend payout ratio is 6.43%.

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

Institutional Trading of EMCOR Group

A number of institutional investors have recently bought and sold shares of EME. Machina Capital S.A.S. bought a new position in EMCOR Group in the third quarter worth approximately $1,074,000. Donoghue Forlines LLC bought a new stake in shares of EMCOR Group during the 3rd quarter valued at $2,221,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of EMCOR Group in the 2nd quarter worth $995,000. Pinnbrook Capital Management LP bought a new position in EMCOR Group in the 2nd quarter worth $1,510,000. Finally, Exchange Traded Concepts LLC purchased a new position in EMCOR Group during the third quarter valued at $528,000. Institutional investors own 92.59% of the company’s stock.

About EMCOR Group

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.