Legacy Financial Independent Advisors LLC Purchases New Position in EMCOR Group, Inc. $EME

by · The Cerbat Gem

Legacy Financial Independent Advisors LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,172 shares of the construction company’s stock, valued at approximately $884,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new stake in EMCOR Group in the third quarter valued at approximately $26,000. Ascentis Independent Advisors bought a new stake in EMCOR Group in the first quarter worth approximately $27,000. NBH Bank bought a new stake in EMCOR Group in the second quarter worth approximately $27,000. GK Wealth Management LLC acquired a new position in shares of EMCOR Group during the 3rd quarter worth $31,000. Finally, Basecamp Wealth Advisors LLC increased 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 purchasing an additional 47 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EME shares. Cantor Fitzgerald cut their price target on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a report on Monday. Robert W. Baird upped their price objective on shares of EMCOR Group from $900.00 to $918.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Oppenheimer lowered their target price on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Monday. UBS Group cut their target price on EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, DA Davidson set a $1,047.00 target price on EMCOR Group in a report on Monday, August 10th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $931.86.

Check Out Our Latest Stock Report on EME

Key Stories Impacting EMCOR Group

Here are the key news stories impacting EMCOR Group this week:

EMCOR Group Stock Down 7.0%

NYSE:EME opened at $594.79 on Friday. EMCOR Group, Inc. has a 12 month low of $564.92 and a 12 month high of $951.96. The firm has a market cap of $26.04 billion, a price-to-earnings ratio of 19.56 and a beta of 1.16. The company’s 50 day moving average is $734.18 and its 200-day moving average is $779.10.

EMCOR Group (NYSE:EME – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.37 by $1.23. The business had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.19 billion. EMCOR Group had a net margin of 7.78% and a return on equity of 36.65%. EMCOR Group’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.57 EPS. Research analysts predict that EMCOR Group, Inc. will post 34.79 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is currently 4.62%.

EMCOR Group announced that its Board of Directors has authorized a stock repurchase plan on Thursday, October 29th that allows the company to repurchase $500 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 1.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

EMCOR Group Company Profile

(Free Report)

EMCOR Group, Inc provides construction, engineering, and building services through a network of specialty contracting businesses. Its core activities include electrical and mechanical construction, energy infrastructure, building systems, facilities services, and industrial maintenance. The company serves commercial, institutional, industrial, manufacturing, healthcare, education, government, and infrastructure customers.

Its services cover the design, installation, operation, maintenance, and upgrading of electrical, heating, ventilation, air-conditioning, plumbing, fire protection, and building automation systems.

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