EMCOR Group, Inc. $EME Shares Acquired by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,546 shares of the construction company’s stock after buying an additional 1,339 shares during the quarter. EMCOR Group accounts for about 1.6% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 18th largest position. Cookson Peirce & Co. Inc. owned approximately 0.14% of EMCOR Group worth $39,327,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of EMCOR Group by 3.0% in the 3rd 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 boosted its position in shares of EMCOR Group by 2.4% in the 3rd quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock valued at $494,000 after purchasing an additional 18 shares during the period. Cornerstone Investment Partners LLC increased its stake in EMCOR Group by 0.9% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 1,938 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 18 shares in the last quarter. Altus Wealth Group LLC raised its holdings in EMCOR Group by 1.4% during the 3rd quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock worth $971,000 after buying an additional 20 shares during the period. Finally, Prospera Financial Services Inc lifted its stake in EMCOR Group by 0.7% during the third quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock valued at $1,799,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Down 3.3%

NYSE EME opened at $782.07 on Friday. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $835.00. The company has a market capitalization of $35.01 billion, a PE ratio of 31.45 and a beta of 1.17. The firm’s fifty day simple moving average is $671.46 and its 200-day simple moving average is $651.67.

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

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were paid a dividend of $0.40 per share. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is currently 6.43%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. DA Davidson boosted their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus raised their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $698.83.

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.