1,668 Shares in EMCOR Group, Inc. $EME Bought by CenterBook Partners LP

CenterBook Partners LP acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,668 shares of the construction company’s stock, valued at approximately $1,083,000.

A number of other hedge funds have also recently bought and sold shares of EME. Main Street Group LTD lifted its position in shares of EMCOR Group by 110.0% during the third quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares in the last quarter. Quent Capital LLC bought a new stake in EMCOR Group in the 3rd quarter worth about $29,000. Orion Capital Management LLC purchased a new stake in EMCOR Group in the 3rd quarter valued at about $31,000. Tobam lifted its position in shares of EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after buying an additional 76 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of EMCOR Group in the 2nd quarter worth approximately $43,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

Shares of EME opened at $812.38 on Friday. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $835.00. The business has a 50-day moving average of $692.14 and a 200 day moving average of $658.68. The firm has a market cap of $36.37 billion, a P/E ratio of 32.67 and a beta of 1.17.

EMCOR Group declared that its board has authorized a share repurchase plan on Thursday, December 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

EMCOR Group Increases Dividend

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

Wall Street Analysts Forecast Growth

EME has been the topic of a number of recent analyst reports. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus lifted their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a report on Friday, October 31st. Finally, Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. 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 stock. According to data from MarketBeat.com, the company currently 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.