United Capital Financial Advisors LLC bought a new position in EMCOR Group, Inc. (NYSE:EME – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,662 shares of the construction company’s stock, valued at approximately $1,379,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. North Dakota State Investment Board acquired a new position in shares of EMCOR Group during the fourth quarter worth approximately $928,000. Sapient Capital LLC acquired a new stake in shares of EMCOR Group in the second quarter worth $5,962,000. Thrivent Financial for Lutherans grew its stake in shares of EMCOR Group by 663.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 113,562 shares of the construction company’s stock worth $69,476,000 after acquiring an additional 98,687 shares during the last quarter. Summit Global Investments bought a new position in EMCOR Group during the second quarter worth $3,791,000. Finally, Passumpsic Savings Bank acquired a new position in EMCOR Group during the 4th quarter valued at $1,726,000. Institutional investors and hedge funds own 92.59% of the company’s stock.
EMCOR Group Stock Performance
Shares of NYSE EME opened at $740.85 on Friday. The stock has a market cap of $32.68 billion, a PE ratio of 23.04 and a beta of 1.14. The business has a fifty day moving average of $789.57 and a two-hundred day moving average of $801.29. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96.
EMCOR Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is currently 4.98%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on EME. Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. UBS Group lifted their target price on EMCOR Group from $975.00 to $1,065.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Cantor Fitzgerald cut their price target on EMCOR Group from $1,123.00 to $1,047.00 and set an “overweight” rating for the company in a report on Monday, August 10th. DA Davidson set a $1,047.00 price objective on EMCOR Group in a report on Monday, August 10th. Finally, Oppenheimer upped their target price on EMCOR Group from $1,100.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $965.86.
Get Our Latest Research Report on EME
Insider Activity at EMCOR Group
In related news, Director Carol P. Lowe sold 950 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $844.50, for a total transaction of $802,275.00. Following the completion of the transaction, the director owned 17,278 shares in the company, valued at approximately $14,591,271. This represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.
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.
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