Hantz Financial Services Inc. Sells 4,051 Shares of EMCOR Group, Inc. $EME

Hantz Financial Services Inc. lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 15.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,429 shares of the construction company’s stock after selling 4,051 shares during the quarter. Hantz Financial Services Inc.’s holdings in EMCOR Group were worth $13,919,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EME. Donoghue Forlines LLC bought a new position in EMCOR Group during the third quarter worth $2,221,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of EMCOR Group in the 2nd quarter worth approximately $995,000. Exchange Traded Concepts LLC bought a new position in shares of EMCOR Group during the third quarter valued at $528,000. Pinnbrook Capital Management LP bought a new position in EMCOR Group during the 2nd quarter valued at about $1,510,000. Finally, Nordea Investment Management AB raised its stake in shares of EMCOR Group by 63.8% in the second quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock valued at $210,278,000 after acquiring an additional 153,948 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 1.7%

NYSE:EME opened at $744.37 on Wednesday. The stock’s 50 day moving average price is $650.81 and its two-hundred day moving average price is $643.77. 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 $33.33 billion, a price-to-earnings ratio of 29.93 and a beta of 1.17.

EMCOR Group declared that its Board of Directors has initiated a stock buyback 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 buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, January 14th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio (DPR) is currently 6.43%.

Analyst Ratings Changes

Several brokerages recently issued reports on EME. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research report on Friday, October 31st. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and raised their price target for the company from $495.00 to $676.00 in a report on Tuesday, October 7th. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus upped their target price on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. 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 company. According to data from MarketBeat.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average target price of $698.83.

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.