Valmark Advisers Inc. bought a new stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,618 shares of the construction company’s stock, valued at approximately $1,602,000.
Other institutional investors have also recently modified their holdings of the company. Main Street Group LTD grew its position in shares of EMCOR Group by 110.0% during the 3rd quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock valued at $27,000 after acquiring an additional 22 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of EMCOR Group during the 4th quarter valued at about $26,000. Quent Capital LLC acquired a new stake in shares of EMCOR Group during the 3rd quarter valued at about $29,000. Orion Capital Management LLC acquired a new stake in shares of EMCOR Group during the 3rd quarter valued at about $31,000. Finally, Richardson Financial Services Inc. grew its position in shares of EMCOR Group by 71.9% during the 4th quarter. Richardson Financial Services Inc. now owns 55 shares of the construction company’s stock valued at $34,000 after acquiring an additional 23 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.
EMCOR Group Trading Down 1.2%
EME stock opened at $804.41 on Thursday. EMCOR Group, Inc. has a 12-month low of $356.97 and a 12-month high of $835.00. The stock has a market cap of $35.82 billion, a price-to-earnings ratio of 28.49 and a beta of 1.11. The business’s 50-day moving average is $759.46 and its 200 day moving average is $692.90.
EMCOR Group declared that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.
EMCOR Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 16th. EMCOR Group’s dividend payout ratio (DPR) is 5.67%.
Insiders Place Their Bets
In other EMCOR Group news, CEO Anthony Guzzi sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $729.48, for a total value of $26,261,280.00. Following the transaction, the chief executive officer directly owned 170,299 shares of the company’s stock, valued at $124,229,714.52. This trade represents a 17.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
EME has been the topic of a number of analyst reports. Cantor Fitzgerald started coverage on EMCOR Group in a research report on Tuesday, March 10th. They set an “overweight” rating and a $848.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Robert W. Baird lifted their price objective on EMCOR Group from $713.00 to $808.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. DA Davidson lifted their price objective on EMCOR Group from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, UBS Group lifted their price objective on EMCOR Group from $900.00 to $945.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $784.43.
View Our Latest Stock Report on EMCOR Group
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.
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