EMCOR Group, Inc. $EME Stake Boosted by Metis Global Partners LLC

Metis Global Partners LLC boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 70.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,312 shares of the construction company’s stock after purchasing an additional 953 shares during the quarter. Metis Global Partners LLC’s holdings in EMCOR Group were worth $1,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of EMCOR Group during the third quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new position in EMCOR Group during the 3rd quarter worth approximately $31,000. Tobam raised its stake in EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after purchasing an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of EMCOR Group in the second quarter valued at $43,000. Finally, True Wealth Design LLC boosted its position in shares of EMCOR Group by 333.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock worth $59,000 after buying an additional 70 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

Shares of EME opened at $800.50 on Monday. The firm has a market cap of $35.84 billion, a PE ratio of 32.19 and a beta of 1.17. The firm’s 50 day moving average price is $675.01 and its 200 day moving average price is $653.05. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $835.00.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were paid 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 boost from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EME. DA Davidson increased their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Stifel Nicolaus upped their price objective on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note 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 issued a Hold rating to the stock. According to data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $698.83.

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.