Proficio Capital Partners LLC Purchases Shares of 52,745 EMCOR Group, Inc. (NYSE:EME)

Proficio Capital Partners LLC acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 52,745 shares of the construction company’s stock, valued at approximately $23,941,000. Proficio Capital Partners LLC owned about 0.11% of EMCOR Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EME. True Wealth Design LLC increased 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 worth $46,000 after purchasing an additional 104 shares during the last quarter. SJS Investment Consulting Inc. increased its position in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in EMCOR Group in the third quarter worth $55,000. Harbor Capital Advisors Inc. bought a new stake in EMCOR Group in the third quarter worth $62,000. Finally, Rakuten Securities Inc. increased its position in EMCOR Group by 4,025.0% in the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on EME. Stifel Nicolaus reduced their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. Northcoast Research initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective on the stock. Finally, StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group Stock Up 1.4 %

EME stock opened at $408.33 on Friday. EMCOR Group, Inc. has a twelve month low of $305.89 and a twelve month high of $545.29. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 20.74 and a beta of 1.11. The firm’s fifty day simple moving average is $459.53 and its two-hundred day simple moving average is $448.17.

EMCOR Group (NYSE:EME) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, equities research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 5.08%.

EMCOR Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.