EMCOR Group, Inc. $EME Shares Sold by Allianz Asset Management GmbH

by · The Markets Daily

Allianz Asset Management GmbH lowered its stake in EMCOR Group, Inc. (NYSE:EME – Free Report) by 30.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 164,491 shares of the construction company’s stock after selling 72,762 shares during the period. Allianz Asset Management GmbH’s holdings in EMCOR Group were worth $106,843,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mission Wealth Management LP grew its stake in EMCOR Group by 5.5% in the third quarter. Mission Wealth Management LP now owns 2,170 shares of the construction company’s stock worth $1,409,000 after purchasing an additional 114 shares in the last quarter. Jones Financial Companies Lllp raised its stake in EMCOR Group by 62.9% during the third quarter. Jones Financial Companies Lllp now owns 1,885 shares of the construction company’s stock valued at $1,208,000 after buying an additional 728 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in EMCOR Group by 13.6% during the 3rd quarter. Mediolanum International Funds Ltd now owns 28,639 shares of the construction company’s stock worth $18,347,000 after buying an additional 3,435 shares during the last quarter. Meridian Wealth Management LLC bought a new position in EMCOR Group during the 3rd quarter worth approximately $366,000. Finally, Fortem Financial Group LLC grew its position in shares of EMCOR Group by 4.3% in the 3rd quarter. Fortem Financial Group LLC now owns 8,627 shares of the construction company’s stock worth $5,604,000 after acquiring an additional 359 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

EME has been the topic of several research reports. Stifel Nicolaus upped their price target on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. DA Davidson boosted their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a report on Friday, October 31st. The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $495.00 to $676.00 in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $698.83.

View Our Latest Stock Analysis on EMCOR Group

EMCOR Group Stock Performance

EME stock opened at $744.37 on Wednesday. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $778.64. The stock has a market capitalization of $33.33 billion, a price-to-earnings ratio of 29.93 and a beta of 1.17. The stock’s fifty day moving average is $650.81 and its two-hundred day moving average is $643.77.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

EMCOR Group announced that its board has authorized a share buyback plan on Thursday, December 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

EMCOR Group Profile

(Free Report)

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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