Vestmark Advisory Solutions Inc. Has $2.87 Million Stock Holdings in EMCOR Group, Inc. $EME

Vestmark Advisory Solutions Inc. reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 39.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,417 shares of the construction company’s stock after selling 2,853 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in EMCOR Group were worth $2,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asahi Life Asset Management CO. LTD. acquired a new position in EMCOR Group during the third quarter valued at approximately $445,000. Machina Capital S.A.S. bought a new position in shares of EMCOR Group in the 3rd quarter valued at $1,074,000. Donoghue Forlines LLC bought a new position in shares of EMCOR Group in the 3rd quarter valued at $2,221,000. Pinnbrook Capital Management LP acquired a new stake in EMCOR Group in the second quarter valued at about $1,510,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of EMCOR Group in the second quarter worth about $995,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Up 0.1%

NYSE:EME opened at $807.63 on Wednesday. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $835.00. The stock has a market capitalization of $36.16 billion, a price-to-earnings ratio of 32.47 and a beta of 1.17. The firm has a fifty day simple moving average of $699.42 and a two-hundred day simple moving average of $661.84.

EMCOR Group declared that its Board of Directors has initiated a share repurchase program on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, January 14th. 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%. EMCOR Group’s dividend payout ratio is currently 6.43%.

Analysts Set New Price Targets

A number of analysts have recently commented on EME shares. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson upped their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the company 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. Finally, Stifel Nicolaus increased their price objective on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.