Cumberland Partners Ltd Acquires 750 Shares of EMCOR Group, Inc. $EME

Cumberland Partners Ltd raised its stake in EMCOR Group, Inc. (NYSE:EME) by 27.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,500 shares of the construction company’s stock after buying an additional 750 shares during the quarter. Cumberland Partners Ltd’s holdings in EMCOR Group were worth $2,273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Main Street Group LTD lifted its position in EMCOR Group by 110.0% in the 3rd quarter. Main Street Group LTD now owns 42 shares of the construction company’s stock valued at $27,000 after acquiring an additional 22 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of EMCOR Group in the 3rd quarter valued at about $29,000. Orion Capital Management LLC bought a new stake in shares of EMCOR Group in the third quarter valued at about $31,000. Tobam boosted its position in shares of EMCOR Group by 1,900.0% during the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after buying an additional 76 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of EMCOR Group during the second quarter worth about $43,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of EME stock opened at $784.65 on Thursday. The company has a fifty day moving average price of $685.04 and a two-hundred day moving average price of $656.38. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $835.00. The stock has a market cap of $35.13 billion, a P/E ratio of 31.55 and a beta of 1.17.

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

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 dividend of $0.40 per share. The ex-dividend date was Wednesday, January 14th. 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%. EMCOR Group’s dividend payout ratio is 6.43%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EME shares. DA Davidson upped their price target on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Stifel Nicolaus lifted their price target 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. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Robert W. Baird set a $713.00 price objective on EMCOR Group in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average price target of $698.83.

EMCOR Group 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.