EMCOR Group, Inc. $EME Stock Position Raised by Hollencrest Capital Management

Hollencrest Capital Management boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 113,000.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,131 shares of the construction company’s stock after acquiring an additional 1,130 shares during the period. Hollencrest Capital Management’s holdings in EMCOR Group were worth $735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EME. Norges Bank bought a new stake in EMCOR Group in the 2nd quarter valued at about $344,548,000. Burgundy Asset Management Ltd. raised its holdings in shares of EMCOR Group by 2.9% during the second quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock valued at $283,736,000 after buying an additional 14,935 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of EMCOR Group by 13.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 518,354 shares of the construction company’s stock worth $275,184,000 after buying an additional 60,693 shares during the period. Nordea Investment Management AB boosted its position in shares of EMCOR Group by 3.1% during the third quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock worth $262,206,000 after buying an additional 12,182 shares during the period. Finally, American Century Companies Inc. grew its holdings in EMCOR Group by 40.2% in 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 in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

EME stock opened at $727.02 on Thursday. The firm has a market capitalization of $32.55 billion, a P/E ratio of 29.23 and a beta of 1.17. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $778.64. The company’s 50 day simple moving average is $639.76 and its 200-day simple moving average is $638.29.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, hitting the consensus estimate of $6.57. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.27 billion. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.80 EPS. Sell-side analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its board has authorized a share buyback program on Thursday, December 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th will be paid 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 of this dividend is Wednesday, January 14th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $677.22, for a total value of $897,316.50. Following the transaction, the director owned 6,140 shares in the company, valued at $4,158,130.80. This represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EME shares. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. 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 EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. DA Davidson increased their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Stifel Nicolaus lifted their price target on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $698.83.

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.