Azzad Asset Management Inc. ADV Acquires Shares of 725 EMCOR Group, Inc. $EME

Azzad Asset Management Inc. ADV bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 725 shares of the construction company’s stock, valued at approximately $471,000.

A number of other institutional investors also recently bought and sold shares of the company. Great Lakes Advisors LLC raised its stake in EMCOR Group by 32.3% during the first quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock worth $218,000 after purchasing an additional 144 shares during the period. Geneos Wealth Management Inc. increased its position in shares of EMCOR Group by 93.0% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company’s stock worth $81,000 after acquiring an additional 106 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of EMCOR Group during the second quarter worth $459,000. IFP Advisors Inc boosted its stake in EMCOR Group by 9.9% during the 2nd quarter. IFP Advisors Inc now owns 1,959 shares of the construction company’s stock valued at $1,048,000 after purchasing an additional 177 shares during the period. Finally, Aberdeen Group plc grew its stake in EMCOR Group by 139.9% during the second quarter. Aberdeen Group plc now owns 2,742 shares of the construction company’s stock worth $1,473,000 after buying an additional 1,599 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EME has been the topic of several analyst reports. Stifel Nicolaus increased their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. 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 lifted their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Trading Up 1.7%

EMCOR Group stock opened at $777.46 on Tuesday. The company has a fifty day simple moving average of $661.27 and a 200-day simple moving average of $648.67. The stock has a market cap of $34.81 billion, a P/E ratio of 31.26 and a beta of 1.17. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $787.90.

EMCOR Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

EMCOR Group Increases Dividend

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

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.