EMCOR Group, Inc. $EME Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of EMCOR Group, Inc. (NYSE:EME) by 22.5% during the third quarter, HoldingsChannel reports. The firm owned 37,565 shares of the construction company’s stock after buying an additional 6,904 shares during the period. HighTower Advisors LLC’s holdings in EMCOR Group were worth $24,400,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EME. Quent Capital LLC acquired a new stake in shares of EMCOR Group during the third quarter worth approximately $29,000. Orion Capital Management LLC acquired a new position in shares of EMCOR Group in the 3rd quarter valued at about $31,000. Tobam raised its position in shares of EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in EMCOR Group in the second quarter worth $43,000. Finally, True Wealth Design LLC increased its holdings in shares of EMCOR Group by 333.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock worth $59,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EME. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson lifted their price target on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Stifel Nicolaus increased their target price on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $784.65 on Thursday. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $835.00. The firm has a market cap of $35.13 billion, a P/E ratio of 31.55 and a beta of 1.17. The firm’s 50-day simple moving average is $685.04 and its 200-day simple moving average is $656.38.

EMCOR Group announced that its board has approved a share buyback program on Thursday, December 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase 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.

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 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 was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is currently 6.43%.

EMCOR Group Company 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.