Asahi Life Asset Management CO. LTD. Purchases New Holdings in EMCOR Group, Inc. $EME

Asahi Life Asset Management CO. LTD. acquired a new position in EMCOR Group, Inc. (NYSE:EME) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 685 shares of the construction company’s stock, valued at approximately $445,000.

Several other large investors have also modified their holdings of EME. Main Street Group LTD grew its stake in shares of EMCOR Group by 110.0% during the third quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock valued at $27,000 after buying an additional 22 shares during the last quarter. Quent Capital LLC purchased a new position in EMCOR Group during the 3rd quarter valued at $29,000. Orion Capital Management LLC bought a new position in EMCOR Group in the 3rd 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 worth $43,000 after purchasing an additional 76 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in EMCOR Group in the second quarter worth $43,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EME shares. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note on Friday, October 31st. DA Davidson lifted their price objective 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. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus boosted their price target on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Stock Up 1.1%

Shares of EME stock opened at $812.38 on Friday. The firm has a market cap of $36.37 billion, a price-to-earnings ratio of 32.67 and a beta of 1.17. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $835.00. The company’s 50 day moving average is $692.14 and its 200 day moving average is $658.68.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend 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 presently 6.43%.

EMCOR Group declared that its board has initiated a stock repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.