Vanguard Group Inc. Has $3.46 Billion Position in EMCOR Group, Inc. $EME

Vanguard Group Inc. raised its position in shares of EMCOR Group, Inc. (NYSE:EME) by 17.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,332,636 shares of the construction company’s stock after purchasing an additional 798,975 shares during the period. Vanguard Group Inc. owned approximately 0.12% of EMCOR Group worth $3,463,760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Great Lakes Advisors LLC lifted its stake in EMCOR Group by 32.3% in the 1st quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock valued at $218,000 after purchasing an additional 144 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of EMCOR Group by 93.0% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company’s stock worth $81,000 after acquiring an additional 106 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of EMCOR Group in the 2nd quarter worth approximately $459,000. Private Trust Co. NA boosted its position in EMCOR Group by 11.8% during the second quarter. Private Trust Co. NA now owns 312 shares of the construction company’s stock valued at $167,000 after acquiring an additional 33 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in shares of EMCOR Group during the 2nd quarter valued at about $260,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 1.6%

EMCOR Group stock opened at $784.65 on Thursday. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $835.00. The firm has a market capitalization of $35.13 billion, a PE ratio of 31.55 and a beta of 1.17. The firm’s 50 day simple moving average is $685.04 and its 200 day simple moving average is $656.38.

EMCOR Group announced that its Board of Directors has initiated a stock buyback program on Thursday, December 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

EMCOR Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were paid a $0.40 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s payout ratio is 6.43%.

Analysts Set New Price Targets

EME has been the topic of several research analyst reports. DA Davidson increased their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $713.00 target price on EMCOR Group in a research report on Friday, October 31st. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus raised their target price on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $698.83.

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.