Aware Super Pty Ltd as trustee of Aware Super bought a new stake in EMCOR Group, Inc. (NYSE:EME – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 55,769 shares of the construction company’s stock, valued at approximately $41,175,000. Aware Super Pty Ltd as trustee of Aware Super owned about 0.13% of EMCOR Group at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Swiss RE Ltd. purchased a new stake in shares of EMCOR Group during the fourth quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in EMCOR Group in the fourth quarter valued at about $26,000. Ascentis Independent Advisors acquired a new stake in EMCOR Group in the first quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new stake in EMCOR Group in the 4th quarter valued at approximately $28,000. Finally, Activest Wealth Management increased its position in EMCOR Group by 800.0% during the 4th quarter. Activest Wealth Management now owns 54 shares of the construction company’s stock worth $33,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.
EMCOR Group Stock Down 2.4%
Shares of EME stock opened at $751.06 on Friday. The stock has a market cap of $33.38 billion, a P/E ratio of 25.20 and a beta of 1.13. EMCOR Group, Inc. has a fifty-two week low of $540.00 and a fifty-two week high of $951.96. The business has a fifty day simple moving average of $832.79 and a 200-day simple moving average of $779.94.
EMCOR Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued 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 is Wednesday, July 15th. EMCOR Group’s dividend payout ratio is 5.37%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on EME. Stifel Nicolaus set a $918.00 target price on EMCOR Group in a research note on Thursday, April 30th. Cantor Fitzgerald restated an “overweight” rating and set a $1,123.00 target price on shares of EMCOR Group in a research report on Tuesday, June 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Monday, April 20th. Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Oppenheimer began coverage on shares of EMCOR Group in a report on Thursday, May 28th. They set an “outperform” rating and a $1,100.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average target price of $871.25.
Get Our Latest Stock Analysis on EME
Insider Buying and Selling
In other news, Director Carol P. Lowe sold 950 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $844.50, for a total value of $802,275.00. Following the sale, the director directly owned 17,278 shares in the company, valued at $14,591,271. This represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert Peter Lind sold 675 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $894.27, for a total transaction of $603,632.25. Following the transaction, the vice president directly owned 4,216 shares of the company’s stock, valued at approximately $3,770,242.32. This trade represents a 13.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 10,027 shares of company stock valued at $8,957,466. 0.83% of the stock is owned by company insiders.
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.
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