Impax Asset Management Group plc Purchases New Holdings in EMCOR Group, Inc. $EME

Impax Asset Management Group plc purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,684 shares of the construction company’s stock, valued at approximately $1,094,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of EMCOR Group by 3.0% during the 3rd quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock valued at $362,000 after acquiring an additional 16 shares during the period. Woodward Diversified Capital LLC lifted its position in EMCOR Group by 2.4% during the third quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock worth $494,000 after purchasing an additional 18 shares during the period. Altus Wealth Group LLC lifted its position in EMCOR Group by 1.4% during the third quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock worth $971,000 after purchasing an additional 20 shares during the period. Prospera Financial Services Inc grew its stake in EMCOR Group by 0.7% during the third quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock worth $1,799,000 after buying an additional 20 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its holdings in EMCOR Group by 2.1% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,092 shares of the construction company’s stock valued at $584,000 after buying an additional 22 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

NYSE EME opened at $782.07 on Friday. The firm’s fifty day moving average price is $671.46 and its two-hundred day moving average price is $651.67. The stock has a market cap of $35.01 billion, a PE ratio of 31.45 and a beta of 1.17. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $835.00.

EMCOR Group announced that its board has approved a stock repurchase program on Thursday, December 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were paid a dividend of $0.40 per share. 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 dividend yield of 0.2%. EMCOR Group’s payout ratio is 6.43%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EME. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. DA Davidson upped their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus lifted their price target on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. 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 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $698.83.

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.