EMCOR Group, Inc. $EME Shares Sold by Mitchell Capital Management Co.

Mitchell Capital Management Co. cut its position in shares of EMCOR Group, Inc. (NYSE:EME) by 37.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,251 shares of the construction company’s stock after selling 6,252 shares during the quarter. EMCOR Group accounts for approximately 1.1% of Mitchell Capital Management Co.’s holdings, making the stock its 24th largest position. Mitchell Capital Management Co.’s holdings in EMCOR Group were worth $6,658,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Great Lakes Advisors LLC lifted its stake in shares of EMCOR Group by 32.3% during the 1st quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock worth $218,000 after purchasing an additional 144 shares during the period. Geneos Wealth Management Inc. lifted its position in EMCOR Group by 93.0% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company’s stock worth $81,000 after buying an additional 106 shares during the period. Sivia Capital Partners LLC acquired a new stake in EMCOR Group in the 2nd quarter worth about $459,000. Aberdeen Group plc grew its holdings in EMCOR Group by 139.9% in the 2nd quarter. Aberdeen Group plc now owns 2,742 shares of the construction company’s stock valued at $1,473,000 after buying an additional 1,599 shares during the period. Finally, CWM LLC grew its holdings in EMCOR Group by 49.1% in the 2nd quarter. CWM LLC now owns 8,299 shares of the construction company’s stock valued at $4,439,000 after buying an additional 2,732 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Stifel Nicolaus lifted their price target on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. DA Davidson upped their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Trading Up 3.3%

Shares of EMCOR Group stock opened at $804.64 on Thursday. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $816.60. The stock has a market cap of $36.02 billion, a price-to-earnings ratio of 32.35 and a beta of 1.17. The company has a fifty day moving average price of $668.54 and a 200 day moving average price of $650.76.

EMCOR Group Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. EMCOR Group’s payout ratio is 6.43%.

EMCOR Group declared that its board 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 reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.