Vanguard Group Inc. Raises Stock Position in EMCOR Group, Inc. $EME

Vanguard Group Inc. grew its holdings in EMCOR Group, Inc. (NYSE:EME) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,332,636 shares of the construction company’s stock after acquiring an additional 798,975 shares during the period. Vanguard Group Inc. owned about 11.91% of EMCOR Group worth $3,463,760,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. WealthBridge Capital Management LLC boosted its stake in EMCOR Group by 14.2% in the 3rd quarter. WealthBridge Capital Management LLC now owns 731 shares of the construction company’s stock worth $475,000 after purchasing an additional 91 shares during the period. JPMorgan Chase & Co. increased its position in EMCOR Group by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 252,686 shares of the construction company’s stock worth $164,135,000 after purchasing an additional 25,583 shares during the last quarter. Main Street Group LTD raised its position in shares of EMCOR Group by 110.0% during the 3rd quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares in the last quarter. PNC Financial Services Group Inc. raised its position in EMCOR Group by 7.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,909 shares of the construction company’s stock valued at $2,539,000 after purchasing an additional 262 shares during the period. Finally, Tower Wealth Partners Inc. bought a new stake in EMCOR Group in the third quarter worth $259,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

NYSE:EME opened at $784.65 on Thursday. The company has a market cap of $35.13 billion, a P/E ratio of 31.55 and a beta of 1.17. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $835.00. The firm’s fifty day moving average price is $685.04 and its two-hundred day moving average price is $656.38.

EMCOR Group declared that its board has approved a share buyback plan on Thursday, December 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Increases Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a research note on Friday, October 31st. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note 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 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 stock a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.