Verdence Capital Advisors LLC Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Verdence Capital Advisors LLC bought a new stake in EMCOR Group, Inc. (NYSE:EME) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 441 shares of the construction company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. True Wealth Design LLC boosted its position in EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of EMCOR Group in the 3rd quarter worth about $55,000. Harbor Capital Advisors Inc. bought a new position in EMCOR Group during the third quarter valued at about $62,000. Finally, Rakuten Securities Inc. increased its holdings in EMCOR Group by 4,025.0% during the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after buying an additional 161 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 0.3 %

EMCOR Group stock opened at $376.10 on Friday. The business has a 50-day simple moving average of $450.59 and a 200 day simple moving average of $449.18. EMCOR Group, Inc. has a 52 week low of $313.48 and a 52 week high of $545.29. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 19.10 and a beta of 1.14.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is currently 4.64%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. Northcoast Research began coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price on the stock. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Stifel Nicolaus cut their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.