Castleark Management LLC bought a new position in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) during the second quarter, Holdings Channel reports. The institutional investor bought 910 shares of the construction company’s stock, valued at approximately $755,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EME. Swiss RE Ltd. bought a new stake in EMCOR Group in the 4th quarter valued at about $25,000. Ascentis Independent Advisors acquired a new stake in shares of EMCOR Group in the first quarter valued at $27,000. Zions Bancorporation National Association UT acquired a new stake in EMCOR Group in the 4th quarter valued at about $28,000. Activest Wealth Management boosted its holdings in EMCOR Group by 800.0% during the fourth quarter. Activest Wealth Management now owns 54 shares of the construction company’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC boosted its stake in shares of EMCOR Group by 4,700.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 48 shares of the construction company’s stock worth $35,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
EMCOR Group Stock Up 3.4%
Shares of EME opened at $765.27 on Thursday. The company has a 50-day moving average price of $792.75 and a two-hundred day moving average price of $801.64. EMCOR Group, Inc. has a 12 month low of $564.92 and a 12 month high of $951.96. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 23.80 and a beta of 1.14.
EMCOR Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 4.98%.
Insider Buying and Selling
In other EMCOR Group news, Director Carol P. Lowe sold 950 shares of the business’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 completion of the sale, the director directly owned 17,278 shares of the company’s stock, valued at approximately $14,591,271. The trade was a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.
Wall Street Analyst Weigh In
EME has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $918.00 target price on EMCOR Group in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Friday, July 17th. Wall Street Zen upgraded EMCOR Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Oppenheimer upped their price objective on shares of EMCOR Group from $1,100.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Zacks Research upgraded shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $965.86.
Get Our Latest Research Report on EMCOR Group
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.
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