NEOS Investment Management LLC Takes $3.19 Million Position in EMCOR Group, Inc. $EME

NEOS Investment Management LLC acquired a new stake in EMCOR Group, Inc. (NYSE:EME) in the third quarter, Holdings Channel.com reports. The firm acquired 4,914 shares of the construction company’s stock, valued at approximately $3,192,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Main Street Group LTD increased its holdings in EMCOR Group by 110.0% in the 3rd quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock worth $27,000 after acquiring an additional 22 shares in the last quarter. Quent Capital LLC purchased a new position in EMCOR Group during the third quarter valued at $29,000. Orion Capital Management LLC acquired a new stake in shares of EMCOR Group in the third quarter valued at about $31,000. Tobam increased its stake in shares of EMCOR Group by 1,900.0% during the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of EMCOR Group during the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

NYSE:EME opened at $803.26 on Friday. The stock has a 50 day moving average price of $688.33 and a 200 day moving average price of $657.40. The stock has a market cap of $35.96 billion, a PE ratio of 32.30 and a beta of 1.17. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $835.00.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were paid a $0.40 dividend. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio is currently 6.43%.

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

Analysts Set New Price Targets

Several equities research analysts have commented on EME shares. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Stifel Nicolaus lifted their price target on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. DA Davidson increased their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Wall Street Zen cut shares of 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 assigned a Hold rating to the stock. According to data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and an average target price 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.