Callan Family Office LLC acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 11,587 shares of the construction company’s stock, valued at approximately $9,616,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of EME. Expressive Wealth LLC purchased a new position in EMCOR Group in the second quarter valued at $611,000. C M Bidwell & Associates Ltd. acquired a new stake in EMCOR Group in the second quarter valued at $67,000. Keebeck Wealth Management purchased a new stake in EMCOR Group during the 2nd quarter worth about $217,000. Keating Financial Advisory Services Inc. acquired a new position in shares of EMCOR Group during the 2nd quarter worth about $144,000. Finally, Paralel Advisors LLC acquired a new position in shares of EMCOR Group during the 2nd quarter worth about $2,597,000. Institutional investors and hedge funds own 92.59% of the company’s stock.
EMCOR Group Stock Down 1.2%
Shares of NYSE EME opened at $777.68 on Friday. The stock has a market cap of $34.30 billion, a PE ratio of 24.19 and a beta of 1.14. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96. The business has a 50-day moving average price of $797.37 and a 200 day moving average price of $800.45.
EMCOR Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a $0.40 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s dividend payout ratio is 4.98%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Friday, July 17th. Zacks Research raised EMCOR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. DA Davidson set a $1,047.00 price target on shares of EMCOR Group in a research note on Monday, August 10th. Stifel Nicolaus set a $918.00 price objective on shares of EMCOR Group in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, EMCOR Group presently has an average rating of “Buy” and a consensus price target of $965.86.
Read Our Latest Analysis on EME
Insiders Place Their Bets
In related news, Director Carol P. Lowe sold 950 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $844.50, for a total transaction of $802,275.00. Following the completion of the sale, the director owned 17,278 shares in the company, valued at $14,591,271. This represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.
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.
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