Jupiter Asset Management Ltd. Lowers Stake in EMCOR Group, Inc. $EME

Jupiter Asset Management Ltd. reduced its position in EMCOR Group, Inc. (NYSE:EME) by 87.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,777 shares of the construction company’s stock after selling 18,637 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in EMCOR Group were worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EME. Machina Capital S.A.S. purchased a new position in EMCOR Group during the 3rd quarter valued at $1,074,000. Donoghue Forlines LLC bought a new stake in shares of EMCOR Group during the third quarter worth $2,221,000. Pinnbrook Capital Management LP bought a new stake in shares of EMCOR Group during the second quarter worth $1,510,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of EMCOR Group during the second quarter valued at $995,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of EMCOR Group in the third quarter worth about $528,000. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Up 1.1%

EMCOR Group stock opened at $812.38 on Friday. The firm has a market cap of $36.37 billion, a P/E ratio of 32.67 and a beta of 1.17. The business has a fifty day moving average of $692.14 and a two-hundred day moving average of $658.92. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $835.00.

EMCOR Group announced that its board has authorized a share repurchase plan on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

EMCOR Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group 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. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus lifted their target price on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, DA Davidson increased their price target on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.