6,105 Shares in EMCOR Group, Inc. $EME Bought by New York Life Investment Management LLC

New York Life Investment Management LLC bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 6,105 shares of the construction company’s stock, valued at approximately $3,965,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EME. Norges Bank bought a new position in shares of EMCOR Group during the second quarter worth about $344,548,000. Burgundy Asset Management Ltd. raised its holdings in EMCOR Group by 2.9% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock worth $283,736,000 after purchasing an additional 14,935 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of EMCOR Group by 3.1% in the 3rd quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock worth $262,206,000 after purchasing an additional 12,182 shares during the period. American Century Companies Inc. boosted its stake in shares of EMCOR Group by 40.2% in the 2nd quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock valued at $186,953,000 after purchasing an additional 100,144 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of EMCOR Group by 2.1% during the second quarter. Ameriprise Financial Inc. now owns 337,218 shares of the construction company’s stock worth $180,315,000 after buying an additional 6,976 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

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

EMCOR Group Price Performance

Shares of EME opened at $804.64 on Thursday. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $816.60. The company has a market cap of $36.02 billion, a PE ratio of 32.35 and a beta of 1.17. The stock has a 50-day moving average of $668.54 and a 200-day moving average of $650.76.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors 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%. The ex-dividend date of this dividend was Wednesday, January 14th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is 6.43%.

EMCOR Group declared that its board has authorized a share repurchase plan on Thursday, December 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.