Canada Post Corp Registered Pension Plan Takes Position in EMCOR Group, Inc. $EME

Canada Post Corp Registered Pension Plan acquired a new stake in EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,261 shares of the construction company’s stock, valued at approximately $2,089,000.

A number of other large investors have also added to or reduced their stakes in EME. Great Lakes Advisors LLC increased its position in EMCOR Group by 32.3% in the 1st quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock valued at $218,000 after acquiring an additional 144 shares during the period. Geneos Wealth Management Inc. grew its stake 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 purchasing an additional 106 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in EMCOR Group in the second quarter valued at $459,000. Belpointe Asset Management LLC raised its position in EMCOR Group by 4.3% during the 2nd quarter. Belpointe Asset Management LLC now owns 782 shares of the construction company’s stock worth $418,000 after purchasing an additional 32 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC acquired a new position in EMCOR Group during the 2nd quarter worth about $287,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EMCOR Group stock opened at $764.85 on Friday. The stock has a market capitalization of $34.24 billion, a price-to-earnings ratio of 30.75 and a beta of 1.17. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $778.64. The stock’s 50 day moving average price is $657.89 and its two-hundred day moving average price is $646.75.

EMCOR Group announced that its board has approved a stock buyback plan on Thursday, December 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to buy up to 1.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EME. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research report on Friday, October 31st. DA Davidson raised their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. One research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $698.83.

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.