Landscape Capital Management L.L.C. acquired a new stake in EMCOR Group, Inc. (NYSE:EME – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,123 shares of the construction company’s stock, valued at approximately $1,762,000.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in EMCOR Group in the 2nd quarter worth about $3,416,412,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of EMCOR Group by 132,234.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 669,611 shares of the construction company’s stock valued at $409,661,000 after purchasing an additional 669,105 shares during the last quarter. Norges Bank bought a new position in EMCOR Group during the fourth quarter valued at approximately $389,702,000. Bank of Montreal Can lifted its position in EMCOR Group by 425.8% during the fourth quarter. Bank of Montreal Can now owns 560,477 shares of the construction company’s stock valued at $342,894,000 after purchasing an additional 453,876 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of EMCOR Group in the 2nd quarter worth $342,273,000. Institutional investors own 92.59% of the company’s stock.
EMCOR Group Stock Down 1.2%
Shares of EMCOR Group stock opened at $777.68 on Friday. The company has a market capitalization of $34.30 billion, a price-to-earnings ratio of 24.19 and a beta of 1.14. The stock’s 50-day simple moving average is $797.37 and its 200-day simple moving average is $800.45. EMCOR Group, Inc. has a 52 week low of $564.92 and a 52 week high of $951.96.
EMCOR Group Dividend Announcement
The business 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 was Wednesday, July 15th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s payout ratio is presently 4.98%.
Insider Activity
In other EMCOR Group news, Director Carol P. Lowe sold 950 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was 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 $14,591,271. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.73% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on EME shares. Oppenheimer upped their price objective on EMCOR Group from $1,100.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Stifel Nicolaus set a $918.00 price target on EMCOR Group in a research note on Thursday, April 30th. Zacks Research raised shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. UBS Group raised their price objective on shares of EMCOR Group from $975.00 to $1,065.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Cantor Fitzgerald cut their target price on shares of EMCOR Group from $1,123.00 to $1,047.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $965.86.
Check Out Our Latest Analysis on EME
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.
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