Knights of Columbus Asset Advisors LLC Lowers Stake in EMCOR Group, Inc. $EME

Knights of Columbus Asset Advisors LLC decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 20.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,063 shares of the construction company’s stock after selling 2,328 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in EMCOR Group were worth $5,887,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EME. Quent Capital LLC purchased a new position in shares of EMCOR Group during the 3rd quarter worth $29,000. Orion Capital Management LLC acquired a new position in EMCOR Group in the third quarter valued at $31,000. Tobam lifted its position in EMCOR Group by 1,900.0% during the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after buying an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in EMCOR Group in the 2nd quarter worth about $43,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in EMCOR Group by 37.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock valued at $59,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

NYSE:EME opened at $729.76 on Friday. The business’s 50-day moving average is $642.70 and its two-hundred day moving average is $638.93. The firm has a market capitalization of $32.67 billion, a PE ratio of 29.34 and a beta of 1.17. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $778.64.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $6.57. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.27 billion. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.80 earnings per share. Equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Increases Dividend

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

EMCOR Group declared that its board has authorized a share repurchase plan on Thursday, December 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Robert W. Baird set a $713.00 price target on EMCOR Group in a research report on Friday, October 31st. Finally, Stifel Nicolaus raised their price objective on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a report on Monday. One 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.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average price target of $698.83.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $677.22, for a total transaction of $897,316.50. Following the transaction, the director directly owned 6,140 shares of the company’s stock, valued at approximately $4,158,130.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.83% of the company’s stock.

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.