EMCOR Group, Inc. (NYSE:EME) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of EMCOR Group, Inc. (NYSE:EME) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $698.8333.

EME has been the subject of a number of research analyst reports. DA Davidson increased their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research report on Friday, October 31st. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Stifel Nicolaus raised their price objective on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th.

Hedge Funds Weigh In On EMCOR Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EME. Caisse de depot et placement du Quebec lifted its holdings in EMCOR Group by 4.9% in the 4th quarter. Caisse de depot et placement du Quebec now owns 310,595 shares of the construction company’s stock valued at $190,019,000 after purchasing an additional 14,560 shares in the last quarter. Value Aligned Research Advisors LLC raised its position in shares of EMCOR Group by 308.8% in the fourth quarter. Value Aligned Research Advisors LLC now owns 111,108 shares of the construction company’s stock valued at $67,975,000 after buying an additional 83,929 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of EMCOR Group during the fourth quarter valued at approximately $321,000. DV Equities LLC acquired a new stake in EMCOR Group during the fourth quarter worth approximately $39,000. Finally, AQR Capital Management LLC grew its stake in EMCOR Group by 6.4% in the 4th quarter. AQR Capital Management LLC now owns 667,698 shares of the construction company’s stock worth $408,491,000 after acquiring an additional 40,191 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Performance

NYSE:EME opened at $796.68 on Wednesday. EMCOR Group has a 1 year low of $320.89 and a 1 year high of $835.00. The stock has a fifty day moving average price of $681.87 and a two-hundred day moving average price of $655.48. The stock has a market capitalization of $35.67 billion, a price-to-earnings ratio of 32.03 and a beta of 1.17.

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

EMCOR Group Increases Dividend

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

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.