EMCOR Group (NYSE:EME) to Buyback $500.00 million in Stock

EMCOR Group (NYSE:EME) declared that its Board of Directors has approved a stock repurchase program on Thursday, December 18th, RTT News reports. The company plans to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EME has been the topic of a number of research analyst reports. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a report on Friday, October 31st. DA Davidson increased their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Stifel Nicolaus boosted their price target on EMCOR Group from $692.00 to $718.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $692.83.

EMCOR Group Price Performance

EMCOR Group stock traded up $16.36 during midday trading on Thursday, hitting $612.83. 467,881 shares of the company were exchanged, compared to its average volume of 379,762. The company has a market cap of $27.44 billion, a PE ratio of 24.64 and a beta of 1.17. The company’s fifty day moving average price is $648.04 and its 200-day moving average price is $606.72. EMCOR Group has a fifty-two week low of $320.89 and a fifty-two week high of $778.64.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 30th. The construction company reported $6.57 EPS for the quarter, hitting analysts’ consensus estimates of $6.57. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the company posted $5.80 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. On average, analysts expect that EMCOR Group will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Shareholders of record on Wednesday, October 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is 4.02%.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $677.22, for a total value of $897,316.50. Following the completion of the sale, the director owned 6,140 shares of the company’s stock, valued at approximately $4,158,130.80. The trade was a 17.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is owned by corporate insiders.

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.