Hager Investment Management Services LLC Sells 1,098 Shares of EMCOR Group, Inc. $EME

Hager Investment Management Services LLC lessened its stake in EMCOR Group, Inc. (NYSE:EME) by 20.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,356 shares of the construction company’s stock after selling 1,098 shares during the period. EMCOR Group accounts for 1.5% of Hager Investment Management Services LLC’s portfolio, making the stock its 23rd largest holding. Hager Investment Management Services LLC’s holdings in EMCOR Group were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Asahi Life Asset Management CO. LTD. acquired a new stake in EMCOR Group in the third quarter worth about $445,000. Machina Capital S.A.S. acquired a new position in EMCOR Group during the 3rd quarter valued at about $1,074,000. Donoghue Forlines LLC bought a new position in shares of EMCOR Group in the 3rd quarter valued at about $2,221,000. Pinnbrook Capital Management LP acquired a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $1,510,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of EMCOR Group during the second quarter worth approximately $995,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Down 0.8%

Shares of NYSE EME opened at $800.62 on Thursday. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $835.00. The stock has a market cap of $35.84 billion, a price-to-earnings ratio of 32.19 and a beta of 1.17. The company’s fifty day moving average is $703.51 and its 200-day moving average is $662.81.

EMCOR Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, January 14th. This is a positive change 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%. EMCOR Group’s payout ratio is presently 6.43%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EME. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a report on Friday, October 31st. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. DA Davidson lifted their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating 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 equities research 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. Based on data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus target price 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.