Asahi Life Asset Management CO. LTD. Makes New $445,000 Investment in EMCOR Group, Inc. $EME

Asahi Life Asset Management CO. LTD. acquired a new stake in EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 685 shares of the construction company’s stock, valued at approximately $445,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in EMCOR Group by 17.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,332,636 shares of the construction company’s stock worth $3,463,760,000 after purchasing an additional 798,975 shares in the last quarter. Norges Bank purchased a new stake in EMCOR Group during the 2nd quarter valued at approximately $344,548,000. Burgundy Asset Management Ltd. raised its position in shares of 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 buying an additional 14,935 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of EMCOR Group by 3.1% in the third quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock worth $262,206,000 after buying an additional 12,182 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of EMCOR Group by 40.2% during the second quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock worth $186,953,000 after acquiring an additional 100,144 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on EME shares. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus lifted 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. Robert W. Baird set a $713.00 price target on 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, DA Davidson lifted their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Trading Up 1.1%

EME opened at $812.38 on Friday. The stock has a 50-day moving average of $692.14 and a 200 day moving average of $658.68. 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 $36.37 billion, a P/E ratio of 32.67 and a beta of 1.17.

EMCOR Group Increases Dividend

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

EMCOR Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About EMCOR Group

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.