Oppenheimer Asset Management Inc. purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,386 shares of the construction company’s stock, valued at approximately $3,640,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss RE Ltd. purchased a new position in EMCOR Group during the 4th quarter valued at about $25,000. Ascentis Independent Advisors purchased a new stake in shares of EMCOR Group in the first quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of EMCOR Group in the fourth quarter valued at about $28,000. Activest Wealth Management grew its position in shares of EMCOR Group by 800.0% in the fourth quarter. Activest Wealth Management now owns 54 shares of the construction company’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC grew its position in shares of EMCOR Group by 4,700.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 48 shares of the construction company’s stock valued at $35,000 after purchasing an additional 47 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
EMCOR Group Price Performance
NYSE:EME opened at $837.20 on Friday. The firm has a market cap of $36.93 billion, a PE ratio of 26.04 and a beta of 1.14. The firm has a 50 day simple moving average of $797.43 and a 200-day simple moving average of $797.26. EMCOR Group, Inc. has a 1-year low of $564.92 and a 1-year high of $951.96.
EMCOR Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, July 15th. EMCOR Group’s dividend payout ratio is currently 4.98%.
Insider Activity
In other news, Director Carol P. Lowe sold 950 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $844.50, for a total transaction of $802,275.00. Following the sale, the director owned 17,278 shares in the company, valued at $14,591,271. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several brokerages recently issued reports on EME. DA Davidson set a $1,047.00 price objective on EMCOR Group in a research report on Monday, August 10th. Cantor Fitzgerald lowered their target price on EMCOR Group from $1,123.00 to $1,047.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Stifel Nicolaus set a $918.00 price target on EMCOR Group in a research report on Thursday, April 30th. UBS Group boosted their price target on EMCOR Group from $975.00 to $1,065.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, EMCOR Group currently has a consensus rating of “Buy” and a consensus target price of $965.86.
Check Out Our Latest Stock Report on EME
EMCOR Group Company 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.
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