HighTower Advisors LLC Grows Stake in EMCOR Group, Inc. $EME

HighTower Advisors LLC boosted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 22.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,565 shares of the construction company’s stock after purchasing an additional 6,904 shares during the quarter. HighTower Advisors LLC owned approximately 0.08% of EMCOR Group worth $24,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Great Lakes Advisors LLC increased its holdings in EMCOR Group by 32.3% during the 1st quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock valued at $218,000 after acquiring an additional 144 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of EMCOR Group by 93.0% in the first 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 during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of EMCOR Group during the 2nd quarter worth approximately $459,000. Private Trust Co. NA raised its position in shares of EMCOR Group by 11.8% during the 2nd quarter. Private Trust Co. NA now owns 312 shares of the construction company’s stock worth $167,000 after purchasing an additional 33 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in EMCOR Group in the 2nd quarter valued at approximately $260,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 1.6%

Shares of EMCOR Group stock opened at $784.65 on Thursday. The business’s fifty day moving average price is $685.04 and its 200 day moving average price is $656.38. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $835.00. The stock has a market capitalization of $35.13 billion, a P/E ratio of 31.55 and a beta of 1.17.

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

EMCOR Group Increases Dividend

The firm also recently declared 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 yield of 0.2%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s dividend payout ratio is presently 6.43%.

Analyst Ratings Changes

Several analysts have recently issued reports on EME shares. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. DA Davidson upped their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus lifted their price target on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a research report on Friday, October 31st. Finally, 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. One 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.