Hager Investment Management Services LLC Sells 1,098 Shares of EMCOR Group, Inc. $EME

Hager Investment Management Services LLC trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 20.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,356 shares of the construction company’s stock after selling 1,098 shares during the quarter. EMCOR Group accounts for 1.5% of Hager Investment Management Services LLC’s portfolio, making the stock its 23rd largest position. Hager Investment Management Services LLC’s holdings in EMCOR Group were worth $2,829,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of EME. Main Street Group LTD raised its stake in shares of EMCOR Group by 110.0% in 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. Quent Capital LLC acquired a new stake in shares of EMCOR Group during the 3rd quarter valued at about $29,000. Orion Capital Management LLC bought a new stake in EMCOR Group in the third quarter valued at about $31,000. Tobam raised its position in EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in EMCOR Group in the second quarter worth about $43,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EME shares. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Stifel Nicolaus upped their price target on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Robert W. Baird set a $713.00 price objective on EMCOR Group in a research note on Friday, October 31st. Finally, DA Davidson lifted their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 31st. One research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Price Performance

EME stock opened at $800.62 on Thursday. The business has a fifty day moving average price of $703.51 and a 200 day moving average price of $662.81. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $835.00. The stock has a market capitalization of $35.84 billion, a price-to-earnings ratio of 32.19 and a beta of 1.17.

EMCOR Group declared that its Board of Directors has authorized a share buyback program on Thursday, December 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is 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 issued a $0.40 dividend. 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 dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

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.