EMCOR Group, Inc. $EME Stock Position Decreased by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its position in EMCOR Group, Inc. (NYSE:EME) by 47.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,858 shares of the construction company’s stock after selling 3,422 shares during the quarter. NewEdge Wealth LLC’s holdings in EMCOR Group were worth $2,606,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Machina Capital S.A.S. bought a new position in shares of EMCOR Group during the 3rd quarter worth approximately $1,074,000. Donoghue Forlines LLC acquired a new position in EMCOR Group during the third quarter worth $2,221,000. Pinnbrook Capital Management LP acquired a new position in EMCOR Group during the second quarter worth $1,510,000. B. Riley Wealth Advisors Inc. bought a new position in shares of EMCOR Group during the second quarter valued at $995,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of EMCOR Group in the 3rd quarter valued at $528,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Up 1.1%

EMCOR Group stock opened at $812.38 on Friday. The business’s 50-day simple moving average is $692.14 and its 200 day simple moving average is $658.68. The stock has a market cap of $36.37 billion, a price-to-earnings ratio of 32.67 and a beta of 1.17. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $835.00.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were issued a $0.40 dividend. This is an increase 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 was Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is currently 6.43%.

EMCOR Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on EME shares. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Stifel Nicolaus increased their price target on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, DA Davidson lifted their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

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.