Forty three Eighteen Advisors LLC purchased a new stake in EMCOR Group, Inc. (NYSE:EME – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,204 shares of the construction company’s stock, valued at approximately $737,000.
Several other institutional investors and hedge funds have also made changes to their positions in EME. Rockefeller Capital Management L.P. raised its position in shares of EMCOR Group by 11.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,970 shares of the construction company’s stock worth $4,265,000 after acquiring an additional 738 shares in the last quarter. World Investment Advisors increased its stake in EMCOR Group by 36.8% in the fourth quarter. World Investment Advisors now owns 1,691 shares of the construction company’s stock valued at $1,035,000 after purchasing an additional 455 shares during the last quarter. Corient Private Wealth LLC raised its holdings in EMCOR Group by 16.8% during the fourth quarter. Corient Private Wealth LLC now owns 15,462 shares of the construction company’s stock worth $9,462,000 after purchasing an additional 2,225 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of EMCOR Group by 23.1% during the 4th quarter. Hsbc Holdings PLC now owns 129,520 shares of the construction company’s stock worth $79,301,000 after buying an additional 24,323 shares during the last quarter. Finally, Worthington Financial Partners LLC acquired a new position in shares of EMCOR Group in the 4th quarter valued at $1,625,000. 92.59% of the stock is owned by institutional investors and hedge funds.
EMCOR Group Price Performance
Shares of NYSE:EME opened at $837.57 on Friday. The stock has a market cap of $37.22 billion, a P/E ratio of 28.10 and a beta of 1.12. The firm has a fifty day moving average price of $852.96 and a 200 day moving average price of $755.25. EMCOR Group, Inc. has a 1-year low of $478.16 and a 1-year high of $951.96.
EMCOR Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is currently 5.37%.
Insider Transactions at EMCOR Group
In related news, CFO Jason R. Nalbandian sold 800 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $856.43, for a total value of $685,144.00. Following the transaction, the chief financial officer owned 18,157 shares in the company, valued at $15,550,199.51. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven Schwarzwaelder sold 5,602 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $895.19, for a total value of $5,014,854.38. Following the sale, the director directly owned 15,875 shares of the company’s stock, valued at approximately $14,211,141.25. This represents a 26.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,027 shares of company stock worth $8,957,466 over the last three months. 0.83% of the stock is currently owned by company insiders.
Analyst Ratings Changes
EME has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Monday, April 20th. Stifel Nicolaus set a $918.00 target price on EMCOR Group in a research report on Thursday, April 30th. Wall Street Zen raised EMCOR Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. DA Davidson upped their target price on EMCOR Group from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Robert W. Baird raised their price target on EMCOR Group from $713.00 to $808.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $871.25.
Read Our Latest Analysis on EMCOR Group
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.
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