ProShare Advisors LLC Has $4.95 Million Stock Holdings in EMCOR Group, Inc. $EME

ProShare Advisors LLC boosted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 284.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,625 shares of the construction company’s stock after buying an additional 5,641 shares during the quarter. ProShare Advisors LLC’s holdings in EMCOR Group were worth $4,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of EME. Quent Capital LLC bought a new stake in shares of EMCOR Group during the third quarter valued at approximately $29,000. Orion Capital Management LLC bought a new position in EMCOR Group in the third quarter worth $31,000. Tobam boosted its stake in EMCOR Group by 1,900.0% during the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after buying an additional 76 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in EMCOR Group in the 2nd quarter valued at $43,000. Finally, True Wealth Design LLC increased its holdings in EMCOR Group by 333.3% in the 3rd 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 Up 2.2%

NYSE:EME opened at $800.50 on Friday. The firm has a market cap of $35.84 billion, a PE ratio of 32.19 and a beta of 1.17. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $835.00. The company’s 50-day moving average price is $675.01 and its two-hundred day moving average price is $652.84.

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 given a dividend of $0.40 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. EMCOR Group’s dividend payout ratio is currently 6.43%.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. DA Davidson increased their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus upped their price objective on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Zacks Research cut 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 assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.