Northwestern Mutual Investment Management Company LLC Decreases Holdings in EMCOR Group, Inc. $EME

Northwestern Mutual Investment Management Company LLC decreased its position in EMCOR Group, Inc. (NYSE:EME) by 85.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,427 shares of the construction company’s stock after selling 8,566 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in EMCOR Group were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $344,548,000. Burgundy Asset Management Ltd. raised its position in EMCOR Group by 2.9% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock worth $283,736,000 after purchasing an additional 14,935 shares during the period. Nordea Investment Management AB raised its position in EMCOR Group by 3.1% in the 3rd quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock worth $262,206,000 after purchasing an additional 12,182 shares during the period. American Century Companies Inc. lifted its stake in EMCOR Group by 40.2% in the second quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock worth $186,953,000 after purchasing an additional 100,144 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in EMCOR Group by 2.1% during the second quarter. Ameriprise Financial Inc. now owns 337,218 shares of the construction company’s stock valued at $180,315,000 after buying an additional 6,976 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

EME has been the subject of a number of recent research reports. Robert W. Baird set a $713.00 target price on EMCOR Group in a research note on Friday, October 31st. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson raised their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. One investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Performance

NYSE EME opened at $784.65 on Thursday. The stock has a market cap of $35.13 billion, a P/E ratio of 31.55 and a beta of 1.17. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $835.00. The stock has a 50 day simple moving average of $685.04 and a two-hundred day simple moving average of $656.38.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.2%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

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

EMCOR Group 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.