Pinnacle Wealth Management LLC Invests $2.04 Million in EMCOR Group, Inc. $EME

Pinnacle Wealth Management LLC purchased a new stake in EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,141 shares of the construction company’s stock, valued at approximately $2,040,000. EMCOR Group makes up 1.4% of Pinnacle Wealth Management LLC’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in EMCOR Group in the third quarter valued at approximately $357,000. Waddell & Associates LLC bought a new position in shares of EMCOR Group during the 3rd quarter valued at $251,000. TD Asset Management Inc raised its holdings in shares of EMCOR Group by 6.7% during the 3rd quarter. TD Asset Management Inc now owns 271,888 shares of the construction company’s stock valued at $176,602,000 after purchasing an additional 17,043 shares in the last quarter. Affinity Investment Advisors LLC lifted its stake in shares of EMCOR Group by 7.9% in the 3rd quarter. Affinity Investment Advisors LLC now owns 463 shares of the construction company’s stock valued at $301,000 after purchasing an additional 34 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. boosted its holdings in EMCOR Group by 103.8% in the third quarter. Waratah Capital Advisors Ltd. now owns 14,822 shares of the construction company’s stock worth $9,627,000 after purchasing an additional 7,549 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EME. Stifel Nicolaus boosted their price target on 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. Robert W. Baird set a $713.00 price target on EMCOR Group in a report on Friday, October 31st. 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, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average price target of $698.83.

EMCOR Group Trading Down 0.8%

EME opened at $800.62 on Thursday. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $835.00. The stock has a market capitalization of $35.84 billion, a price-to-earnings ratio of 32.19 and a beta of 1.17. The business has a 50 day moving average of $703.51 and a 200-day moving average of $662.81.

EMCOR Group announced that its board has authorized a stock buyback plan on Thursday, December 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, January 14th. This represents a $1.60 annualized dividend and a yield of 0.2%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio (DPR) is 6.43%.

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.