EMCOR Group, Inc. $EME Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,431 shares of the construction company’s stock after selling 1,840 shares during the quarter. EMCOR Group accounts for 1.1% of Marks Group Wealth Management Inc’s holdings, making the stock its 12th largest position. Marks Group Wealth Management Inc’s holdings in EMCOR Group were worth $11,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Main Street Group LTD increased its holdings in shares of EMCOR Group by 110.0% during the 3rd quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock valued at $27,000 after purchasing an additional 22 shares in the last quarter. Quent Capital LLC acquired a new stake in EMCOR Group during the third quarter valued at $29,000. Orion Capital Management LLC purchased a new position in EMCOR Group in the third quarter valued at $31,000. Tobam raised its position in shares of EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after acquiring an additional 76 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of EMCOR Group in the second quarter worth about $43,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EME shares. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Stifel Nicolaus raised their price objective on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday, January 26th. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. DA Davidson increased their target price on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Price Performance

NYSE EME opened at $812.38 on Monday. The stock’s 50 day simple moving average is $692.14 and its 200-day simple moving average is $659.18. The company has a market cap of $36.37 billion, a PE ratio of 32.67 and a beta of 1.17. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $835.00.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were paid 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 dividend payout ratio is presently 6.43%.

EMCOR Group declared that its board has authorized a share repurchase 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 typically a sign that the company’s management believes its stock is undervalued.

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.