EMCOR Group, Inc. $EME Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 9.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 166,301 shares of the construction company’s stock after selling 17,842 shares during the period. Envestnet Asset Management Inc. owned 0.37% of EMCOR Group worth $108,019,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EME. Quent Capital LLC purchased a new position in shares of EMCOR Group during the 3rd quarter worth $29,000. Orion Capital Management LLC purchased a new stake in shares of EMCOR Group in the third quarter valued at $31,000. Tobam increased its stake in EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after purchasing an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in EMCOR Group during the second quarter worth about $43,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in EMCOR Group by 37.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock worth $59,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

EME has been the subject of a number of research analyst reports. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a research note on Friday, October 31st. Finally, Stifel Nicolaus increased their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One equities 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Trading Up 6.6%

Shares of EME stock opened at $764.85 on Friday. The company has a market cap of $34.24 billion, a PE ratio of 30.75 and a beta of 1.17. The company’s fifty day simple moving average is $657.89 and its 200-day simple moving average is $646.75. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $778.64.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders 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. 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. EMCOR Group’s payout ratio is presently 6.43%.

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

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.