Chase Investment Counsel Corp Invests $906,000 in EMCOR Group, Inc. (NYSE:EME)

Chase Investment Counsel Corp acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,997 shares of the construction company’s stock, valued at approximately $906,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of EMCOR Group by 3,466.7% during the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. Prospera Private Wealth LLC bought a new position in EMCOR Group in the 3rd quarter valued at about $55,000. Harbor Capital Advisors Inc. bought a new position in EMCOR Group in the 3rd quarter valued at about $62,000. Finally, Rakuten Securities Inc. lifted its position in EMCOR Group by 4,025.0% in the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock valued at $71,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

NYSE:EME opened at $408.33 on Friday. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of 20.74 and a beta of 1.11. EMCOR Group, Inc. has a 52 week low of $305.89 and a 52 week high of $545.29. The firm has a 50-day moving average price of $459.53 and a two-hundred day moving average price of $448.17.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. EMCOR Group’s payout ratio is currently 5.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Stifel Nicolaus dropped 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. Northcoast Research assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target on the stock. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

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.