691 Shares in EMCOR Group, Inc. $EME Bought by MQS Management LLC

MQS Management LLC acquired a new stake in EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 691 shares of the construction company’s stock, valued at approximately $449,000.

A number of other large investors have also modified their holdings of EME. Norges Bank acquired a new stake in EMCOR Group in the second quarter valued at approximately $344,548,000. Burgundy Asset Management Ltd. boosted its stake in shares of EMCOR Group by 2.9% in the second quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock valued at $283,736,000 after purchasing an additional 14,935 shares during the period. Nordea Investment Management AB grew its holdings in EMCOR Group by 3.1% during the 3rd quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock valued at $262,206,000 after purchasing an additional 12,182 shares in the last quarter. American Century Companies Inc. increased its stake in EMCOR Group by 40.2% during the 2nd quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock worth $186,953,000 after buying an additional 100,144 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in EMCOR Group by 2.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 337,218 shares of the construction company’s stock worth $180,315,000 after buying an additional 6,976 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EME shares. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus lifted their price objective on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. DA Davidson increased their target price on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Price Performance

NYSE:EME opened at $804.64 on Thursday. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $816.60. The business has a 50 day simple moving average of $668.54 and a 200 day simple moving average of $650.76. The firm has a market capitalization of $36.02 billion, a P/E ratio of 32.35 and a beta of 1.17.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were given a $0.40 dividend. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s payout ratio is currently 6.43%.

EMCOR Group declared that its Board of Directors has approved a share repurchase plan on Thursday, December 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are 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.