The Emcor Group is an important business in the construction and infrastructure space. It specializes in electrical, mechanical, and industrial construction. It also offers energy-related services and other construction-related services. The main clientele of the Emcor Group includes industrial, commercial, and utility businesses. The Emcor Group is quite well-diversified and has some 80 companies under its belt. It is also part of the Fortune 500 list of the largest corporations in America. Higher economic activity is directly proportional to the business prospects of the Emcor Group. A rebound in the economy after the pandemic is a trend that can positively impact the Emcor Group. So, if you are looking for construction stocks to invest in 2021, then the Emcor Group can be a candidate.
Background About Emcor Group
The Emcor Group was founded in 1994, which is quite recent, given the size and scale that Emcor has reached. The bankruptcy of a company known as Jamaican Water Properties Inc resulted in the formation of Emcor. Since its founding, the Emcor Group has consistently made a series of acquisitions to broaden its product and service portfolio as well as its customer base. The year 2002 was a busy one for Emcor as it went on an acquisition spree. The year saw the company acquire 19 companies of HVAC specialists Comfort Systems USA. In 2005, Emcor acquired a fire protection company and a mechanical services company. More acquisitions followed in 2007, 2010, and 2013 in the areas of mechanical construction, welding, engineering, and other construction-related segments. The one positive factor amidst all of these acquisitions is the ability of Emcor to successfully integrate acquired businesses into the group. Emcor Group is among the top construction stocks of 2021.
The Emcor Group’s stock trades under the symbol ‘EME’ on the NYSE. The stock closed at $120.88 on 24th August 2021. It was up 1.08% for the day while down a marginal 0.48% for the preceding month. The stock’s 1-year return at the time was over 60%, not counting dividends.