Naviter Wealth LLC Takes $236,000 Position in EMCOR Group, Inc. (NYSE:EME)

Naviter Wealth LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME) in the 4th quarter, Holdings Channel reports. The firm acquired 520 shares of the construction company’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. True Wealth Design LLC raised its position in EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after purchasing an additional 104 shares during the period. SJS Investment Consulting Inc. raised its holdings in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after buying an additional 94 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of EMCOR Group in the 3rd quarter valued at $55,000. Rakuten Securities Inc. lifted its stake in EMCOR Group by 4,025.0% during the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after acquiring an additional 161 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Up 0.3 %

Shares of NYSE:EME opened at $376.10 on Monday. EMCOR Group, Inc. has a fifty-two week low of $313.48 and a fifty-two week high of $545.29. The firm’s 50 day moving average price is $450.59 and its 200 day moving average price is $450.29. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 19.10 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Northcoast Research began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. Finally, The Goldman Sachs Group began coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.