Westover Capital Advisors LLC Reduces Stock Position in EMCOR Group, Inc. $EME

Westover Capital Advisors LLC reduced its position in EMCOR Group, Inc. (NYSE:EME) by 18.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,383 shares of the construction company’s stock after selling 1,957 shares during the period. EMCOR Group makes up about 1.0% of Westover Capital Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Westover Capital Advisors LLC’s holdings in EMCOR Group were worth $5,445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC lifted its position in EMCOR Group by 3.0% during the third quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock valued at $362,000 after purchasing an additional 16 shares in the last quarter. Woodward Diversified Capital LLC raised its position in shares of EMCOR Group by 2.4% during the third quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock valued at $494,000 after buying an additional 18 shares during the last quarter. Altus Wealth Group LLC lifted its stake in EMCOR Group by 1.4% in the 3rd quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock worth $971,000 after purchasing an additional 20 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of EMCOR Group by 0.7% in the third quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock worth $1,799,000 after buying an additional 20 shares in the last quarter. Finally, Simon Quick Advisors LLC boosted its position in shares of EMCOR Group by 2.1% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,092 shares of the construction company’s stock valued at $584,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson lifted their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Stifel Nicolaus upped their price objective on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Robert W. Baird set a $713.00 target price on EMCOR Group in a research report on Friday, October 31st. One investment 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Up 3.3%

EMCOR Group stock opened at $804.64 on Thursday. The stock has a 50-day moving average price of $668.54 and a 200 day moving average price of $650.76. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 32.35 and a beta of 1.17. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $816.60.

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 issued a $0.40 dividend. 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. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s dividend payout ratio is currently 6.43%.

EMCOR Group announced that its Board of Directors has approved a share repurchase program 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 programs are typically a sign that the company’s leadership 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.