Twin Capital Management Inc. Sells 2,746 Shares of EMCOR Group, Inc. $EME

Twin Capital Management Inc. reduced its position in EMCOR Group, Inc. (NYSE:EME) by 45.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,256 shares of the construction company’s stock after selling 2,746 shares during the quarter. Twin Capital Management Inc.’s holdings in EMCOR Group were worth $2,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Donoghue Forlines LLC bought a new stake in EMCOR Group during the 3rd quarter worth approximately $2,221,000. Machina Capital S.A.S. bought a new position in shares of EMCOR Group during the third quarter valued at $1,074,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of EMCOR Group during the second quarter worth $995,000. Pinnbrook Capital Management LP bought a new stake in shares of EMCOR Group in the second quarter worth $1,510,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of EMCOR Group in the third quarter worth $528,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EME has been the subject of several analyst reports. Robert W. Baird set a $713.00 target price on EMCOR Group in a research report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. DA Davidson lifted their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Stock Performance

Shares of EME opened at $764.85 on Friday. The firm has a market cap of $34.24 billion, a PE ratio of 30.75 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 business’s 50 day moving average price is $657.89 and its two-hundred day moving average price is $646.15.

EMCOR Group Increases Dividend

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

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

About EMCOR Group

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.