JPMorgan Chase & Co. Buys 25,583 Shares of EMCOR Group, Inc. $EME

JPMorgan Chase & Co. lifted its position in EMCOR Group, Inc. (NYSE:EME) by 11.3% during the 3rd quarter, Holdings Channel reports. The firm owned 252,686 shares of the construction company’s stock after acquiring an additional 25,583 shares during the period. JPMorgan Chase & Co.’s holdings in EMCOR Group were worth $164,135,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EME. Signaturefd LLC boosted its position in EMCOR Group by 3.0% during the 3rd quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock valued at $362,000 after buying an additional 16 shares during the period. Woodward Diversified Capital LLC boosted its holdings in shares of EMCOR Group by 2.4% during the third quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock worth $494,000 after purchasing an additional 18 shares during the period. Cornerstone Investment Partners LLC grew its stake in shares of EMCOR Group by 0.9% in the third 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 during the last quarter. Altus Wealth Group LLC increased 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 valued at $971,000 after purchasing an additional 20 shares during the period. Finally, Prospera Financial Services Inc raised its position in EMCOR Group by 0.7% during the 3rd quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock valued at $1,799,000 after purchasing an additional 20 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Trading Up 1.1%

Shares of EMCOR Group stock opened at $812.38 on Friday. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $835.00. The firm has a market capitalization of $36.37 billion, a P/E ratio of 32.67 and a beta of 1.17. The business has a fifty day simple moving average of $692.14 and a two-hundred day simple moving average of $658.92.

EMCOR Group announced that its Board of Directors has approved a share 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 purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, January 14th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s payout ratio is presently 6.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EME shares. DA Davidson lifted their price objective on 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 report on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note on Friday, October 31st. Finally, Stifel Nicolaus boosted their price target on shares of EMCOR Group from $713.00 to $754.00 and gave the company 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 given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $698.83.

About EMCOR Group

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.