Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Holdings in EMCOR Group, Inc. $EME

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in EMCOR Group, Inc. (NYSE:EME) by 384.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,066 shares of the construction company’s stock after buying an additional 4,814 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in EMCOR Group were worth $3,940,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus raised their target price on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. DA Davidson upped their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research report on Friday, October 31st. Finally, Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Stock Up 1.1%

NYSE EME opened at $812.38 on Friday. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $835.00. The firm has a 50 day moving average of $692.14 and a two-hundred day moving average of $658.92. The stock has a market capitalization of $36.37 billion, a PE ratio of 32.67 and a beta of 1.17.

EMCOR Group Increases Dividend

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

EMCOR Group declared that its Board of Directors has initiated a share 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 typically a sign that the company’s leadership believes its stock is undervalued.

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.