Inspire Investing LLC boosted its position in EMCOR Group, Inc. (NYSE:EME – Free Report) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,949 shares of the construction company’s stock after buying an additional 2,741 shares during the quarter. EMCOR Group makes up approximately 0.8% of Inspire Investing LLC’s portfolio, making the stock its 15th biggest position. Inspire Investing LLC’s holdings in EMCOR Group were worth $9,146,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of EME. Asahi Life Asset Management CO. LTD. bought a new stake in EMCOR Group in the third quarter valued at approximately $445,000. Wealth Enhancement Advisory Services LLC lifted its position in EMCOR Group by 12.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,149 shares of the construction company’s stock valued at $7,972,000 after purchasing an additional 1,389 shares during the last quarter. Sierra Summit Advisors LLC bought a new stake in EMCOR Group in the third quarter valued at approximately $5,459,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in EMCOR Group by 100.0% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,600 shares of the construction company’s stock valued at $2,338,000 after purchasing an additional 1,800 shares during the last quarter. Finally, North Dakota State Investment Board bought a new stake in EMCOR Group in the fourth quarter valued at approximately $928,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
EMCOR Group Stock Down 1.1%
Shares of EMCOR Group stock opened at $825.65 on Thursday. The company has a market cap of $36.69 billion, a PE ratio of 27.70 and a beta of 1.12. The business has a 50 day moving average of $850.25 and a 200 day moving average of $753.10. EMCOR Group, Inc. has a 52 week low of $478.16 and a 52 week high of $951.96.
EMCOR Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Thursday, April 16th. EMCOR Group’s dividend payout ratio is currently 5.37%.
Analysts Set New Price Targets
Several analysts have weighed in on the company. UBS Group boosted their price objective on EMCOR Group from $900.00 to $945.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Monday, April 20th. DA Davidson boosted their price objective on EMCOR Group from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,123.00 price objective on shares of EMCOR Group in a research report on Tuesday. Finally, Oppenheimer assumed coverage on EMCOR Group in a research report on Thursday, May 28th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $871.25.
Check Out Our Latest Research Report on EME
Insiders Place Their Bets
In related news, VP Robert Peter Lind sold 675 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $894.27, for a total transaction of $603,632.25. Following the completion of the transaction, the vice president owned 4,216 shares in the company, valued at $3,770,242.32. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Reid sold 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $925.78, for a total value of $1,851,560.00. Following the completion of the transaction, the director directly owned 10,149 shares of the company’s stock, valued at $9,395,741.22. This represents a 16.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,077 shares of company stock worth $8,155,191 in the last ninety days. Insiders own 0.83% of the company’s stock.
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.
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