Atria Investments Inc Sells 1,684 Shares of EMCOR Group, Inc. $EME

Atria Investments Inc reduced its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 18.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,614 shares of the construction company’s stock after selling 1,684 shares during the quarter. Atria Investments Inc’s holdings in EMCOR Group were worth $4,945,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quent Capital LLC bought a new stake in shares of EMCOR Group during the 3rd quarter worth $29,000. Orion Capital Management LLC bought a new stake in EMCOR Group in the third quarter worth about $31,000. Tobam boosted its stake in EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after acquiring an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of EMCOR Group during the 2nd quarter valued at approximately $43,000. Finally, True Wealth Design LLC increased its stake in shares of EMCOR Group by 333.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock worth $59,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EME opened at $800.50 on Friday. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $835.00. The stock’s 50-day simple moving average is $675.01 and its 200 day simple moving average is $652.95. The stock has a market capitalization of $35.84 billion, a price-to-earnings ratio of 32.19 and a beta of 1.17.

EMCOR Group announced that its Board of Directors has initiated a share buyback plan on Thursday, December 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

EMCOR Group Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on EME shares. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Finally, DA Davidson upped their price objective 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. One 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. According to MarketBeat, EMCOR Group has an average rating of “Moderate Buy” and an average target price of $698.83.

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.