Vestmark Advisory Solutions Inc. Has $2.87 Million Stock Holdings in EMCOR Group, Inc. $EME

Vestmark Advisory Solutions Inc. lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 39.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,417 shares of the construction company’s stock after selling 2,853 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in EMCOR Group were worth $2,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EME. Asahi Life Asset Management CO. LTD. purchased a new position in shares of EMCOR Group during the third quarter valued at approximately $445,000. Machina Capital S.A.S. bought a new position in EMCOR Group during the 3rd quarter valued at $1,074,000. Donoghue Forlines LLC bought a new stake in shares of EMCOR Group in the 3rd quarter worth $2,221,000. Pinnbrook Capital Management LP bought a new stake in shares of EMCOR Group in the 2nd quarter worth $1,510,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of EMCOR Group during the second quarter valued at about $995,000. 92.59% of the stock is owned by institutional investors.

EMCOR Group Price Performance

NYSE:EME opened at $807.63 on Wednesday. The company has a market capitalization of $36.16 billion, a P/E ratio of 32.47 and a beta of 1.17. The business has a fifty day simple moving average of $699.42 and a two-hundred day simple moving average of $661.84. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $835.00.

EMCOR Group announced that its board has initiated a stock repurchase plan 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 plans are typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Increases Dividend

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

Analyst Upgrades and Downgrades

EME has been the subject of a number of recent analyst reports. 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. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson lifted their price target on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Finally, Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One 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 company. According to data from MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus 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.