ProShare Advisors LLC Purchases 5,641 Shares of EMCOR Group, Inc. $EME

ProShare Advisors LLC increased its position in EMCOR Group, Inc. (NYSE:EME) by 284.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,625 shares of the construction company’s stock after buying an additional 5,641 shares during the period. ProShare Advisors LLC’s holdings in EMCOR Group were worth $4,953,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EME. Oppenheimer & Co. Inc. increased its stake in shares of EMCOR Group by 1.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,624 shares of the construction company’s stock worth $4,952,000 after purchasing an additional 127 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in EMCOR Group by 1.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 4,591 shares of the construction company’s stock worth $2,982,000 after purchasing an additional 57 shares in the last quarter. Western Wealth Management LLC boosted its holdings in EMCOR Group by 26.3% in the third quarter. Western Wealth Management LLC now owns 2,988 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 623 shares in the last quarter. Candriam S.C.A. increased its position in EMCOR Group by 0.5% during the third quarter. Candriam S.C.A. now owns 27,443 shares of the construction company’s stock worth $17,825,000 after buying an additional 130 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new position in EMCOR Group during the third quarter worth $3,965,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Stifel Nicolaus increased their price target on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Up 2.2%

EME opened at $800.50 on Friday. The stock’s 50 day moving average price is $675.01 and its two-hundred day moving average price is $652.84. The firm has a market capitalization of $35.84 billion, a P/E ratio of 32.19 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 business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, January 14th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio is currently 6.43%.

EMCOR Group declared that its board has initiated a stock repurchase program on Thursday, December 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.