Public Sector Pension Investment Board Has $15.58 Million Stock Holdings in EMCOR Group, Inc. $EME

Public Sector Pension Investment Board lifted its stake in EMCOR Group, Inc. (NYSE:EME) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,982 shares of the construction company’s stock after acquiring an additional 3,783 shares during the quarter. Public Sector Pension Investment Board’s holdings in EMCOR Group were worth $15,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quent Capital LLC bought a new position in EMCOR Group in the third quarter valued at approximately $29,000. Orion Capital Management LLC bought a new position in shares of EMCOR Group in the third quarter valued at $31,000. Tobam grew 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 valued at $43,000 after buying an additional 76 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in EMCOR Group during the second quarter worth $43,000. Finally, True Wealth Design LLC raised its position in EMCOR Group by 333.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock worth $59,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 2.2%

Shares of NYSE:EME opened at $800.50 on Friday. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $835.00. The business has a 50 day moving average of $675.01 and a 200-day moving average of $652.95. The stock has a market cap of $35.84 billion, a PE ratio of 32.19 and a beta of 1.17.

EMCOR Group declared that its board has approved a stock buyback plan on Thursday, December 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is currently 6.43%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. DA Davidson upped their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus raised their price objective 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, Robert W. Baird set a $713.00 target price on EMCOR Group in a report on Friday, October 31st. One equities 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 company. According to MarketBeat.com, the stock has an average 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.