EMCOR Group, Inc. $EME Shares Sold by Renaissance Group LLC

Renaissance Group LLC decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,206 shares of the construction company’s stock after selling 21,113 shares during the quarter. EMCOR Group makes up approximately 1.7% of Renaissance Group LLC’s holdings, making the stock its 6th biggest holding. Renaissance Group LLC owned 0.15% of EMCOR Group worth $44,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quent Capital LLC bought a new position in shares of EMCOR Group during the third quarter worth about $29,000. Orion Capital Management LLC acquired a new position in EMCOR Group during the 3rd quarter valued at about $31,000. Tobam grew its position in EMCOR Group by 1,900.0% in the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of EMCOR Group in the second quarter valued at approximately $43,000. Finally, True Wealth Design LLC raised its holdings in shares of EMCOR Group by 333.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock valued at $59,000 after buying an additional 70 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports 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. DA Davidson raised their price target on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus lifted their price objective on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. One 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Price Performance

Shares of EME opened at $764.85 on Friday. The firm’s 50 day moving average is $657.89 and its 200-day moving average is $646.15. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64. The stock has a market capitalization of $34.24 billion, a P/E ratio of 30.75 and a beta of 1.17.

EMCOR Group announced that its Board of Directors has initiated a share 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 repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were given a dividend of $0.40 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s payout ratio is currently 6.43%.

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.