National Pension Service Acquires 8,771 Shares of EMCOR Group, Inc. $EME

National Pension Service grew its stake in EMCOR Group, Inc. (NYSE:EME) by 29.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,473 shares of the construction company’s stock after purchasing an additional 8,771 shares during the quarter. National Pension Service owned about 0.09% of EMCOR Group worth $24,990,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EME. Signaturefd LLC lifted its stake in EMCOR Group by 3.0% in the third quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock valued at $362,000 after buying an additional 16 shares during the period. Woodward Diversified Capital LLC boosted its stake in EMCOR Group by 2.4% during the 3rd quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock worth $494,000 after acquiring an additional 18 shares during the last quarter. Altus Wealth Group LLC grew its holdings in EMCOR Group by 1.4% during the third quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock valued at $971,000 after purchasing an additional 20 shares during the period. Simon Quick Advisors LLC increased its stake in EMCOR Group by 2.1% in the second quarter. Simon Quick Advisors LLC now owns 1,092 shares of the construction company’s stock valued at $584,000 after purchasing an additional 22 shares in the last quarter. Finally, Archer Investment Corp raised its holdings in EMCOR Group by 2.6% in the third quarter. Archer Investment Corp now owns 858 shares of the construction company’s stock worth $557,000 after purchasing an additional 22 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $730.55 on Tuesday. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $778.64. The firm has a market cap of $32.71 billion, a PE ratio of 29.37 and a beta of 1.17. The business’s 50 day simple moving average is $648.03 and its 200 day simple moving average is $642.51.

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 given a dividend of $0.40 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s payout ratio is presently 6.43%.

EMCOR Group declared that its board has authorized a share buyback plan on Thursday, December 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on EME. 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 report on Monday, January 26th. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and increased their price target for the stock from $495.00 to $676.00 in a report on Tuesday, October 7th. Robert W. Baird set a $713.00 price objective on EMCOR Group in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.