EMCOR Group, Inc. $EME Shares Sold by Running Oak Capital LLC

Running Oak Capital LLC reduced its holdings in EMCOR Group, Inc. (NYSE:EME) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,224 shares of the construction company’s stock after selling 4,553 shares during the period. EMCOR Group makes up about 2.3% of Running Oak Capital LLC’s investment portfolio, making the stock its biggest position. Running Oak Capital LLC’s holdings in EMCOR Group were worth $20,281,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Great Lakes Advisors LLC boosted its stake in EMCOR Group by 32.3% during 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. lifted its holdings in shares of EMCOR Group by 93.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company’s stock valued at $81,000 after purchasing an additional 106 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of EMCOR Group during the second quarter worth $459,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of EMCOR Group by 25.9% during the second 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 in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in EMCOR Group by 18.0% in the 2nd quarter. QRG Capital Management Inc. now owns 3,347 shares of the construction company’s stock valued at $1,790,000 after acquiring an additional 510 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

EMCOR Group stock opened at $730.55 on Tuesday. The stock has a market capitalization of $32.71 billion, a price-to-earnings ratio of 29.37 and a beta of 1.17. The stock’s 50 day moving average price is $648.03 and its two-hundred day moving average price is $642.51. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $778.64.

EMCOR Group declared that its board has approved a stock buyback program on Thursday, December 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management 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. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio is currently 6.43%.

Wall Street Analyst Weigh In

EME has been the subject of several research reports. DA Davidson raised their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $495.00 to $676.00 in a research note on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Stifel Nicolaus upped their price target on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Robert W. Baird set a $713.00 price target on EMCOR Group in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. 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.