EMCOR Group, Inc. $EME Position Trimmed by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 12.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,745 shares of the construction company’s stock after selling 923 shares during the quarter. Heritage Investors Management Corp’s holdings in EMCOR Group were worth $4,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Great Lakes Advisors LLC grew its holdings in shares of EMCOR Group by 32.3% in the 1st quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock worth $218,000 after acquiring an additional 144 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in EMCOR Group by 93.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company’s stock worth $81,000 after purchasing an additional 106 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in EMCOR Group in the 2nd quarter worth about $459,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in EMCOR Group by 25.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the construction company’s stock worth $2,752,000 after buying an additional 1,058 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in EMCOR Group by 18.0% during the second quarter. QRG Capital Management Inc. now owns 3,347 shares of the construction company’s stock valued at $1,790,000 after buying an additional 510 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $495.00 to $676.00 in a research note on Tuesday, October 7th. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note on Friday, October 31st. Stifel Nicolaus increased their target price on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Stock Up 1.4%

Shares of NYSE:EME opened at $730.55 on Tuesday. The firm has a fifty day moving average of $648.03 and a two-hundred day moving average of $642.51. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64. The firm has a market capitalization of $32.71 billion, a P/E ratio of 29.37 and a beta of 1.17.

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. 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 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is 6.43%.

EMCOR Group declared that its board has approved a share repurchase program on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.