Canada Post Corp Registered Pension Plan Purchases New Stake in EMCOR Group, Inc. $EME

Canada Post Corp Registered Pension Plan purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the third quarter, Holdings Channel reports. The firm purchased 3,261 shares of the construction company’s stock, valued at approximately $2,089,000.

A number of other large investors have also recently made changes to their positions in the business. Quent Capital LLC bought a new stake in shares of EMCOR Group during the third quarter worth about $29,000. Orion Capital Management LLC acquired a new position in EMCOR Group during the 3rd quarter valued at about $31,000. Tobam increased its holdings in EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of EMCOR Group in the second quarter worth approximately $43,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of EMCOR Group by 37.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock valued at $59,000 after purchasing an additional 30 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EME. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. DA Davidson upped their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Stifel Nicolaus upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $698.83.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $764.85 on Friday. The company’s 50-day moving average is $657.89 and its 200 day moving average is $646.75. The company has a market capitalization of $34.24 billion, a P/E ratio of 30.75 and a beta of 1.17. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $778.64.

EMCOR Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

EMCOR Group Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is currently 6.43%.

EMCOR Group 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.