EMCOR Group, Inc. $EME Stake Lifted by Metis Global Partners LLC

Metis Global Partners LLC boosted its stake in EMCOR Group, Inc. (NYSE:EME) by 70.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,312 shares of the construction company’s stock after buying an additional 953 shares during the period. Metis Global Partners LLC’s holdings in EMCOR Group were worth $1,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EME. Norges Bank bought a new stake in EMCOR Group in the 2nd quarter valued at about $344,548,000. Federated Hermes Inc. increased its stake in shares of EMCOR Group by 56.4% in the second quarter. Federated Hermes Inc. now owns 322,437 shares of the construction company’s stock valued at $172,468,000 after purchasing an additional 116,289 shares during the period. American Century Companies Inc. raised its holdings in shares of EMCOR Group by 40.2% during the second quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock valued at $186,953,000 after buying an additional 100,144 shares during the last quarter. Symphony Financial Ltd. Co. acquired a new position in shares of EMCOR Group during the second quarter worth approximately $47,504,000. Finally, Hsbc Holdings PLC grew its holdings in EMCOR Group by 143.9% in the 2nd quarter. Hsbc Holdings PLC now owns 106,617 shares of the construction company’s stock worth $57,191,000 after buying an additional 62,907 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

EME has been the topic of several recent analyst reports. DA Davidson lifted their target price on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Stifel Nicolaus boosted their price target 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 equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Trading Up 2.2%

Shares of EMCOR Group stock opened at $800.50 on Monday. The company’s 50-day moving average price is $675.01 and its two-hundred day moving average price is $653.05. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $835.00. The stock has a market cap of $35.84 billion, a PE ratio of 32.19 and a beta of 1.17.

EMCOR Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication 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. Shareholders of record on Wednesday, January 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.2%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

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.