Aberdeen Group plc Acquires 4,022 Shares of EMCOR Group, Inc. $EME

Aberdeen Group plc increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 146.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,764 shares of the construction company’s stock after purchasing an additional 4,022 shares during the quarter. Aberdeen Group plc’s holdings in EMCOR Group were worth $4,382,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of EMCOR Group in the 2nd quarter worth $344,548,000. Burgundy Asset Management Ltd. lifted its position in EMCOR Group by 2.9% during the second quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock valued at $283,736,000 after purchasing an additional 14,935 shares during the period. Nordea Investment Management AB grew its stake in shares of EMCOR Group by 3.1% during the 3rd quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock worth $262,206,000 after purchasing an additional 12,182 shares during the period. American Century Companies Inc. grew its position in shares of EMCOR Group by 40.2% during the 2nd quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock valued at $186,953,000 after acquiring an additional 100,144 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of EMCOR Group by 2.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 337,218 shares of the construction company’s stock valued at $180,315,000 after buying an additional 6,976 shares in the last quarter. 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 stock has a fifty day moving average of $692.14 and a two-hundred day moving average of $658.68. The company has a market capitalization of $36.37 billion, a PE ratio of 32.67 and a beta of 1.17.

EMCOR Group declared that its board has approved a stock buyback plan on Thursday, December 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is 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 issued a $0.40 dividend. The ex-dividend date was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s payout ratio is 6.43%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. DA Davidson raised 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Stifel Nicolaus raised their target price on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $698.83.

EMCOR Group Company 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.