EMCOR Group, Inc. (NYSE:EME – Get Free Report) declared a quarterly dividend on Friday, October 2nd. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.40 per share by the construction company on Friday, October 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 15th.
EMCOR Group has raised its dividend payment by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. EMCOR Group has a dividend payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Analysts expect EMCOR Group to earn $37.23 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 4.3%.
EMCOR Group Stock Performance
Shares of NYSE EME traded up $18.53 during midday trading on Friday, reaching $787.56. The company’s stock had a trading volume of 369,924 shares, compared to its average volume of 393,717. The company has a market cap of $34.74 billion, a P/E ratio of 24.50 and a beta of 1.12. The business’s 50 day moving average price is $771.46 and its two-hundred day moving average price is $799.86. EMCOR Group has a fifty-two week low of $564.92 and a fifty-two week high of $951.96.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on EME shares. Weiss Ratings downgraded shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. DA Davidson set a $1,047.00 target price on shares of EMCOR Group in a research report on Monday, August 10th. UBS Group increased their price target on EMCOR Group from $975.00 to $1,065.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Oppenheimer boosted their price objective on EMCOR Group from $1,100.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald reduced their price target on EMCOR Group from $1,123.00 to $1,047.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $965.86.
View Our Latest Stock Report on EME
About EMCOR Group
EMCOR Group, Inc is a specialty construction and facilities services company headquartered in Norwalk, Connecticut. The company provides mechanical and electrical construction, building services, industrial services, energy infrastructure, and related maintenance solutions for commercial, industrial, institutional, governmental, and utility customers.
Its activities include designing and installing heating, ventilation, and air-conditioning systems; electrical power and communications infrastructure; plumbing and piping systems; fire protection; process systems; and building automation technologies.
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