Pinnacle Wealth Management LLC Purchases Shares of 3,141 EMCOR Group, Inc. $EME

Pinnacle Wealth Management LLC acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 3,141 shares of the construction company’s stock, valued at approximately $2,040,000. EMCOR Group accounts for approximately 1.4% of Pinnacle Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Main Street Group LTD boosted its stake in EMCOR Group by 110.0% during the third quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock worth $27,000 after buying an additional 22 shares in the last quarter. Quent Capital LLC bought a new position in shares of EMCOR Group during the 3rd quarter worth about $29,000. Orion Capital Management LLC bought a new position in shares of EMCOR Group during the 3rd quarter worth about $31,000. Tobam boosted its position in shares of EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after acquiring an additional 76 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in EMCOR Group in the second quarter valued at about $43,000. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. DA Davidson raised their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus raised their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. 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 lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Price Performance

EME stock opened at $800.62 on Thursday. The stock has a market capitalization of $35.84 billion, a price-to-earnings ratio of 32.19 and a beta of 1.17. The business has a fifty day moving average price of $703.51 and a 200 day moving average price of $662.81. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $835.00.

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

EMCOR Group Increases Dividend

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

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.