Citizens Financial Group Inc. RI bought a new position in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,287 shares of the construction company’s stock, valued at approximately $1,068,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc acquired a new position in EMCOR Group in the second quarter worth approximately $257,000. UNIVEST FINANCIAL Corp acquired a new stake in shares of EMCOR Group during the 2nd quarter valued at $8,609,000. Grandfield & Dodd LLC bought a new stake in shares of EMCOR Group during the 2nd quarter worth $715,000. Focused Alpha LLC bought a new stake in shares of EMCOR Group during the 2nd quarter worth $395,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new position in shares of EMCOR Group in the 2nd quarter worth $3,601,000. Institutional investors and hedge funds own 92.59% of the company’s stock.
EMCOR Group Price Performance
Shares of EME stock opened at $823.87 on Wednesday. EMCOR Group, Inc. has a fifty-two week low of $564.92 and a fifty-two week high of $951.96. The stock’s 50-day moving average is $798.19 and its two-hundred day moving average is $799.61. The firm has a market cap of $36.34 billion, a P/E ratio of 25.63 and a beta of 1.14.
EMCOR Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, July 15th. EMCOR Group’s dividend payout ratio is presently 4.98%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Stifel Nicolaus set a $918.00 price target on EMCOR Group in a research report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Friday, July 17th. Oppenheimer lifted their target price on shares of EMCOR Group from $1,100.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Cantor Fitzgerald cut their price target on shares of 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. Finally, Zacks Research upgraded shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $965.86.
Get Our Latest Stock Analysis on EMCOR Group
Insider Buying and Selling
In other EMCOR Group news, Director Carol P. Lowe sold 950 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $844.50, for a total transaction of $802,275.00. Following the transaction, the director directly 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is owned by insiders.
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.
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