EMCOR Group, Inc. $EME Shares Sold by Mitchell Capital Management Co.

Mitchell Capital Management Co. reduced its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 37.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,251 shares of the construction company’s stock after selling 6,252 shares during the period. EMCOR Group makes up 1.1% of Mitchell Capital Management Co.’s investment portfolio, making the stock its 24th largest holding. Mitchell Capital Management Co.’s holdings in EMCOR Group were worth $6,658,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research analysts have issued reports on EME shares. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a report on Friday, October 31st. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus lifted their price objective on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. One research 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. According to data from MarketBeat.com, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Price Performance

EME stock opened at $804.64 on Thursday. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $816.60. The firm has a market capitalization of $36.02 billion, a PE ratio of 32.35 and a beta of 1.17. The company’s 50 day simple moving average is $668.54 and its 200-day simple moving average is $650.76.

EMCOR Group Increases Dividend

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

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

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.