ING Groep NV Takes Position in EMCOR Group, Inc. $EME

ING Groep NV acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,787 shares of the construction company’s stock, valued at approximately $3,759,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EME. Machina Capital S.A.S. bought a new stake in EMCOR Group during the third quarter worth $1,074,000. Donoghue Forlines LLC bought 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 position in shares of EMCOR Group during the 2nd quarter worth about $1,510,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of EMCOR Group in the 2nd quarter valued at about $995,000. Finally, Exchange Traded Concepts LLC acquired a new stake in EMCOR Group in the 3rd quarter valued at about $528,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Down 3.3%

EMCOR Group stock opened at $782.07 on Friday. The company has a market capitalization of $35.01 billion, a price-to-earnings ratio of 31.45 and a beta of 1.17. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $835.00. The stock’s 50 day moving average is $671.46 and its 200-day moving average is $651.67.

EMCOR Group announced that its board has authorized a stock repurchase plan on Thursday, December 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio is 6.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. DA Davidson boosted their price target on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $713.00 target price on EMCOR Group in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Stifel Nicolaus lifted their price objective on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. 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 company. According to MarketBeat.com, the company currently has a consensus 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.