Navellier & Associates Inc. Boosts Stake in EMCOR Group, Inc. $EME

Navellier & Associates Inc. increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,279 shares of the construction company’s stock after purchasing an additional 658 shares during the period. EMCOR Group makes up approximately 2.2% of Navellier & Associates Inc.’s investment portfolio, making the stock its 2nd largest holding. Navellier & Associates Inc. owned about 0.07% of EMCOR Group worth $21,616,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EME. Norges Bank acquired a new stake in shares of EMCOR Group in the 2nd quarter valued at approximately $344,548,000. Nordea Investment Management AB raised its holdings in EMCOR Group by 63.8% in the second quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock worth $210,278,000 after purchasing an additional 153,948 shares during the period. Federated Hermes Inc. boosted its position in shares of EMCOR Group by 56.4% during the second quarter. Federated Hermes Inc. now owns 322,437 shares of the construction company’s stock worth $172,468,000 after purchasing an additional 116,289 shares in the last quarter. American Century Companies Inc. boosted its position in shares of EMCOR Group by 40.2% during the second quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock worth $186,953,000 after purchasing an additional 100,144 shares in the last quarter. Finally, Symphony Financial Ltd. Co. acquired a new position in shares of EMCOR Group in the 2nd quarter valued at $47,504,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on EME shares. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Stifel Nicolaus increased their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. 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. Finally, Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Up 1.7%

NYSE:EME opened at $777.46 on Tuesday. The company has a market cap of $34.81 billion, a P/E ratio of 31.26 and a beta of 1.17. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $787.90. The business has a 50 day moving average price of $661.27 and a two-hundred day moving average price of $648.67.

EMCOR Group declared that its board has authorized a stock buyback program on Thursday, December 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

EMCOR Group Increases Dividend

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

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.