Impax Asset Management Group plc Purchases Shares of 1,684 EMCOR Group, Inc. $EME

Impax Asset Management Group plc purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,684 shares of the construction company’s stock, valued at approximately $1,094,000.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC bought a new position in EMCOR Group during the 3rd quarter worth $29,000. Orion Capital Management LLC bought a new position in shares of EMCOR Group during the third quarter worth about $31,000. Tobam lifted its stake in shares of 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 acquiring an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in EMCOR Group in the second quarter valued at approximately $43,000. Finally, True Wealth Design LLC increased its position in EMCOR Group by 333.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock valued at $59,000 after purchasing an additional 70 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 3.3%

NYSE:EME opened at $782.07 on Friday. The stock has a market capitalization of $35.01 billion, a price-to-earnings ratio of 31.45 and a beta of 1.17. The firm has a fifty day simple moving average of $671.46 and a two-hundred day simple moving average of $651.67. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $835.00.

EMCOR Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

EMCOR Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EME shares. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research report on Friday, October 31st. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. DA Davidson increased their price target on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.