EMCOR Group, Inc. $EME Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its position in shares of EMCOR Group, Inc. (NYSE:EME) by 62.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,885 shares of the construction company’s stock after buying an additional 728 shares during the period. Jones Financial Companies Lllp’s holdings in EMCOR Group were worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mediolanum International Funds Ltd grew its position in EMCOR Group by 13.6% in the 3rd quarter. Mediolanum International Funds Ltd now owns 28,639 shares of the construction company’s stock valued at $18,347,000 after acquiring an additional 3,435 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of EMCOR Group in the third quarter valued at approximately $366,000. Fortem Financial Group LLC grew its holdings in shares of EMCOR Group by 4.3% in the third quarter. Fortem Financial Group LLC now owns 8,627 shares of the construction company’s stock valued at $5,604,000 after purchasing an additional 359 shares in the last quarter. Transcend Capital Advisors LLC increased its stake in EMCOR Group by 14.9% during the 3rd quarter. Transcend Capital Advisors LLC now owns 711 shares of the construction company’s stock worth $462,000 after buying an additional 92 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its stake in EMCOR Group by 159.1% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 285 shares of the construction company’s stock worth $186,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

EMCOR Group stock opened at $777.08 on Wednesday. The stock has a market cap of $34.79 billion, a PE ratio of 31.25 and a beta of 1.17. The stock’s fifty day moving average is $664.68 and its two-hundred day moving average is $649.67. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $792.84.

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

EMCOR Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to buy up to 1.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EME. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. DA Davidson upped 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. Finally, Robert W. Baird set a $713.00 price objective on EMCOR Group in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus 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.