JPMorgan Chase & Co. Purchases 25,583 Shares of EMCOR Group, Inc. $EME

JPMorgan Chase & Co. grew its position in shares of EMCOR Group, Inc. (NYSE:EME) by 11.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,686 shares of the construction company’s stock after purchasing an additional 25,583 shares during the period. JPMorgan Chase & Co. owned approximately 0.56% of EMCOR Group worth $164,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EME. Main Street Group LTD grew its position in EMCOR Group by 110.0% during the third quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock worth $27,000 after buying an additional 22 shares in the last quarter. Quent Capital LLC bought a new stake in shares of EMCOR Group during the 3rd quarter valued at about $29,000. Orion Capital Management LLC purchased a new position in shares of EMCOR Group during the third quarter worth about $31,000. Tobam grew its holdings in shares of EMCOR Group by 1,900.0% during the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of EMCOR Group in the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME stock opened at $812.38 on Friday. The firm has a market cap of $36.37 billion, a P/E ratio of 32.67 and a beta of 1.17. The firm’s fifty day moving average is $692.14 and its 200 day moving average is $658.92. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $835.00.

EMCOR Group Increases Dividend

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

EMCOR Group declared that its board has initiated a stock repurchase program 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 programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

EME has been the subject of several research analyst reports. 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. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a 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 stock a “buy” rating in a research report on Friday, October 31st. Stifel Nicolaus raised their price target on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $698.83.

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.