B. Metzler seel. Sohn & Co. AG decreased its position in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 18.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,441 shares of the construction company’s stock after selling 795 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in EMCOR Group were worth $2,235,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in shares of EMCOR Group by 3.0% during the 3rd quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock valued at $362,000 after buying an additional 16 shares during the last quarter. Woodward Diversified Capital LLC increased its holdings in EMCOR Group by 2.4% in the third quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock worth $494,000 after buying an additional 18 shares during the last quarter. Cornerstone Investment Partners LLC raised its position in EMCOR Group by 0.9% during the third quarter. Cornerstone Investment Partners LLC now owns 1,938 shares of the construction company’s stock valued at $1,259,000 after acquiring an additional 18 shares in the last quarter. Altus Wealth Group LLC lifted its stake in EMCOR Group by 1.4% in the third quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock valued at $971,000 after acquiring an additional 20 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in EMCOR Group by 0.7% in the third quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock valued at $1,799,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.
EMCOR Group Stock Up 1.7%
NYSE:EME opened at $718.10 on Tuesday. The company’s 50 day moving average is $720.55 and its 200-day moving average is $669.67. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $835.00. The firm has a market cap of $31.98 billion, a price-to-earnings ratio of 25.44 and a beta of 1.16.
EMCOR Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were given a $0.40 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is 5.67%.
EMCOR Group announced that its board has initiated a share buyback plan on Thursday, December 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
EME has been the topic of several analyst reports. DA Davidson increased their price target on shares of EMCOR Group from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Stifel Nicolaus lifted their price objective on shares of EMCOR Group from $754.00 to $814.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Robert W. Baird increased their target price on shares of EMCOR Group from $713.00 to $808.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. UBS Group raised their target price on EMCOR Group from $900.00 to $945.00 and gave the company a “buy” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $773.83.
Check Out Our Latest Stock Report on EME
Insider Activity at EMCOR Group
In related news, CEO Anthony Guzzi sold 36,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $729.48, for a total transaction of $26,261,280.00. Following the completion of the transaction, the chief executive officer owned 170,299 shares of the company’s stock, valued at approximately $124,229,714.52. The trade was a 17.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.26% of the company’s stock.
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.
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