Cookson Peirce & Co. Inc. Buys 1,339 Shares of EMCOR Group, Inc. $EME

Cookson Peirce & Co. Inc. lifted its stake in EMCOR Group, Inc. (NYSE:EME) by 2.3% during the third quarter, Holdings Channel reports. The fund owned 60,546 shares of the construction company’s stock after acquiring an additional 1,339 shares during the quarter. EMCOR Group accounts for 1.6% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 18th largest position. Cookson Peirce & Co. Inc.’s holdings in EMCOR Group were worth $39,327,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in shares of EMCOR Group in the third quarter valued at approximately $29,000. Orion Capital Management LLC acquired a new position in EMCOR Group in the 3rd quarter valued at $31,000. Tobam raised its holdings in EMCOR Group by 1,900.0% in the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after acquiring an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in EMCOR Group during the second quarter valued at about $43,000. Finally, True Wealth Design LLC boosted its holdings in EMCOR Group by 333.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock valued at $59,000 after acquiring an additional 70 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of EME stock opened at $782.07 on Friday. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $835.00. The stock has a fifty day moving average price of $671.46 and a 200 day moving average price of $651.67. The stock has a market cap of $35.01 billion, a P/E ratio of 31.45 and a beta of 1.17.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were given a dividend of $0.40 per share. This is an increase 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 presently 6.43%.

EMCOR Group announced that its board has authorized a share repurchase plan on Thursday, December 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Robert W. Baird set a $713.00 price target on EMCOR Group in a report on Friday, October 31st. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Stifel Nicolaus upped their target price on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, EMCOR Group currently 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.