Axxcess Wealth Management LLC Purchases 631 Shares of EMCOR Group, Inc. $EME

Axxcess Wealth Management LLC grew its position in shares of EMCOR Group, Inc. (NYSE:EME) by 50.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,879 shares of the construction company’s stock after buying an additional 631 shares during the quarter. Axxcess Wealth Management LLC’s holdings in EMCOR Group were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in EMCOR Group by 17.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,332,636 shares of the construction company’s stock valued at $3,463,760,000 after purchasing an additional 798,975 shares during the last quarter. Norges Bank purchased a new stake in shares of EMCOR Group during the second quarter valued at $344,548,000. Federated Hermes Inc. increased its holdings in EMCOR Group by 56.4% in the 2nd quarter. Federated Hermes Inc. now owns 322,437 shares of the construction company’s stock worth $172,468,000 after buying an additional 116,289 shares in the last quarter. American Century Companies Inc. increased its holdings in EMCOR Group by 40.2% in the 2nd quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock worth $186,953,000 after buying an additional 100,144 shares in the last quarter. Finally, Symphony Financial Ltd. Co. purchased a new position in EMCOR Group in the 2nd quarter worth about $47,504,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EME shares. DA Davidson raised their price target 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 restated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note on Friday, October 31st. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, Stifel Nicolaus lifted their price objective on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a report on Monday, January 26th. 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 data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Trading Up 1.1%

EME opened at $812.38 on Friday. The firm’s 50 day simple moving average is $692.14 and its two-hundred day simple moving average is $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, Inc. has a 1-year low of $320.89 and a 1-year high of $835.00.

EMCOR Group Increases Dividend

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

EMCOR Group declared that its Board of Directors has initiated a share buyback plan on Thursday, December 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.