Waratah Capital Advisors Ltd. Has $9.63 Million Stock Position in EMCOR Group, Inc. $EME

Waratah Capital Advisors Ltd. boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 103.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,822 shares of the construction company’s stock after purchasing an additional 7,549 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in EMCOR Group were worth $9,627,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Signaturefd LLC raised its position in shares of EMCOR Group by 3.0% during the third quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock valued at $362,000 after buying an additional 16 shares during the last quarter. Woodward Diversified Capital LLC increased its stake in EMCOR Group by 2.4% during the third quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock valued at $494,000 after acquiring an additional 18 shares during the period. Cornerstone Investment Partners LLC raised its holdings in EMCOR Group by 0.9% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 1,938 shares of the construction company’s stock valued at $1,259,000 after acquiring an additional 18 shares in the last quarter. Altus Wealth Group LLC lifted its position in shares of EMCOR Group by 1.4% in the 3rd quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock worth $971,000 after acquiring an additional 20 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in shares of EMCOR Group by 0.7% during the 3rd quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock worth $1,799,000 after purchasing an additional 20 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EME. Stifel Nicolaus raised their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. DA Davidson raised their price objective on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research note on Friday, October 31st. Finally, Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $698.83.

EMCOR Group Price Performance

Shares of EME opened at $807.63 on Wednesday. The business’s 50 day simple moving average is $699.42 and its 200-day simple moving average is $661.84. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $835.00. The company has a market capitalization of $36.16 billion, a P/E ratio of 32.47 and a beta of 1.17.

EMCOR Group announced that its board has authorized a stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

EMCOR Group Increases Dividend

The firm 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 a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. EMCOR Group’s dividend payout ratio is 6.43%.

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.