Waratah Capital Advisors Ltd. Buys 7,549 Shares of EMCOR Group, Inc. $EME

Waratah Capital Advisors Ltd. increased its stake in EMCOR Group, Inc. (NYSE:EME) by 103.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,822 shares of the construction company’s stock after purchasing an additional 7,549 shares during the period. Waratah Capital Advisors Ltd.’s holdings in EMCOR Group were worth $9,627,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in shares of EMCOR Group by 3.0% during the third quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock worth $362,000 after acquiring an additional 16 shares during the last quarter. Woodward Diversified Capital LLC grew its holdings 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 period. Cornerstone Investment Partners LLC grew its holdings in EMCOR Group by 0.9% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 1,938 shares of the construction company’s stock worth $1,259,000 after acquiring an additional 18 shares during the period. Altus Wealth Group LLC raised its position in shares of EMCOR Group by 1.4% during the 3rd quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock valued at $971,000 after acquiring an additional 20 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in shares of EMCOR Group by 0.7% in the 3rd quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock valued at $1,799,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

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

EMCOR Group Price Performance

NYSE EME opened at $807.63 on Wednesday. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $835.00. The firm has a market cap of $36.16 billion, a P/E ratio of 32.47 and a beta of 1.17. The stock’s 50-day moving average is $699.42 and its 200-day moving average is $661.84.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were given a dividend of $0.40 per share. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. 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. EMCOR Group’s payout ratio is currently 6.43%.

EMCOR Group declared that its Board of Directors has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.