Caprock Group LLC Buys New Shares in EMCOR Group, Inc. $EME

Caprock Group LLC acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,166 shares of the construction company’s stock, valued at approximately $3,203,000.

A number of other hedge funds have also modified their holdings of EME. Quent Capital LLC purchased a new stake in EMCOR Group during the third quarter valued at about $29,000. Orion Capital Management LLC purchased a new position in EMCOR Group during the 3rd quarter worth approximately $31,000. Tobam raised its stake in EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after purchasing an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of EMCOR Group in the second quarter valued at $43,000. Finally, True Wealth Design LLC boosted its position in shares of EMCOR Group by 333.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock worth $59,000 after buying an additional 70 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. DA Davidson raised their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a research note on Friday, October 31st. Finally, Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Performance

EMCOR Group stock opened at $782.07 on Friday. The firm has a market capitalization of $35.01 billion, a PE ratio of 31.45 and a beta of 1.17. The business’s 50-day simple moving average is $671.46 and its 200-day simple moving average is $651.67. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $835.00.

EMCOR Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors 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 yield of 0.2%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s payout ratio is presently 6.43%.

EMCOR Group declared that its Board of Directors has approved a share buyback plan on Thursday, December 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

EMCOR Group Profile

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.