BI Asset Management Fondsmaeglerselskab A S Increases Holdings in EMCOR Group, Inc. $EME

BI Asset Management Fondsmaeglerselskab A S lifted its position in EMCOR Group, Inc. (NYSE:EME) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,828 shares of the construction company’s stock after buying an additional 13,964 shares during the period. EMCOR Group makes up about 0.8% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 26th biggest position. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.30% of EMCOR Group worth $88,226,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Quent Capital LLC bought a new position in EMCOR Group in the third quarter valued at about $29,000. Orion Capital Management LLC bought a new position in shares of EMCOR Group in the 3rd quarter worth approximately $31,000. Tobam lifted its stake in shares of EMCOR Group by 1,900.0% in the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of EMCOR Group in the second quarter worth approximately $43,000. Finally, True Wealth Design LLC grew 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 valued at $59,000 after buying an additional 70 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EME stock opened at $708.96 on Thursday. The stock has a fifty day simple moving average of $652.77 and a two-hundred day simple moving average of $644.22. The firm has a market capitalization of $31.74 billion, a PE ratio of 28.51 and a beta of 1.17. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $778.64.

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

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors 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 boost from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is presently 6.43%.

Analysts Set New Price Targets

Several research firms have weighed in on EME. Stifel Nicolaus increased their price target on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. DA Davidson upped their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $713.00 target price on EMCOR Group in a research report on Friday, October 31st. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One research 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 MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average target price of $698.83.

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.