Navellier & Associates Inc. Purchases 658 Shares of EMCOR Group, Inc. $EME

Navellier & Associates Inc. raised its position in EMCOR Group, Inc. (NYSE:EME) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,279 shares of the construction company’s stock after acquiring an additional 658 shares during the quarter. EMCOR Group makes up about 2.2% of Navellier & Associates Inc.’s investment portfolio, making the stock its 2nd largest holding. Navellier & Associates Inc.’s holdings in EMCOR Group were worth $21,616,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in EMCOR Group during the second quarter worth about $344,548,000. Burgundy Asset Management Ltd. lifted its position in shares of EMCOR Group by 2.9% in the second quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock valued at $283,736,000 after buying an additional 14,935 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of EMCOR Group by 13.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 518,354 shares of the construction company’s stock worth $275,184,000 after acquiring an additional 60,693 shares during the period. Nordea Investment Management AB increased its holdings in shares of EMCOR Group by 3.1% during the 3rd quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock worth $262,206,000 after acquiring an additional 12,182 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in EMCOR Group by 40.2% in the 2nd quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock valued at $186,953,000 after acquiring an additional 100,144 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 1.7%

Shares of EMCOR Group stock opened at $777.46 on Tuesday. The stock has a market capitalization of $34.81 billion, a price-to-earnings ratio of 31.26 and a beta of 1.17. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $787.90. The company has a 50-day simple moving average of $661.27 and a two-hundred day simple moving average of $648.67.

EMCOR Group announced that its board has initiated a stock repurchase program on Thursday, December 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

EMCOR Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on EME. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, DA Davidson boosted their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. One investment 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.com, the stock has an average rating of “Moderate Buy” and an average target price 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.