Northwestern Mutual Investment Management Company LLC Sells 8,566 Shares of EMCOR Group, Inc. $EME

Northwestern Mutual Investment Management Company LLC trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 85.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,427 shares of the construction company’s stock after selling 8,566 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in EMCOR Group were worth $927,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Great Lakes Advisors LLC lifted its stake in shares of EMCOR Group by 32.3% in the 1st quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock valued at $218,000 after purchasing an additional 144 shares during the period. Geneos Wealth Management Inc. lifted its position in EMCOR Group by 93.0% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company’s stock valued at $81,000 after buying an additional 106 shares during the period. Sivia Capital Partners LLC purchased a new position in EMCOR Group during the second quarter valued at $459,000. Private Trust Co. NA boosted its holdings in shares of EMCOR Group by 11.8% during the 2nd quarter. Private Trust Co. NA now owns 312 shares of the construction company’s stock valued at $167,000 after buying an additional 33 shares in the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of EMCOR Group in the 2nd quarter worth about $260,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Down 1.6%

Shares of NYSE EME opened at $784.65 on Thursday. The firm has a market cap of $35.13 billion, a P/E ratio of 31.55 and a beta of 1.17. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $835.00. The company has a 50 day moving average of $685.04 and a 200 day moving average of $656.38.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, January 14th. This is an increase 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%. EMCOR Group’s dividend payout ratio is currently 6.43%.

EMCOR Group announced that its Board of Directors has initiated 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 reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

EME has been the topic of several research reports. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus lifted their target price on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. DA Davidson raised their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $698.83.

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.