Chase Investment Counsel Corp Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Chase Investment Counsel Corp acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,997 shares of the construction company's stock, valued at approximately $906,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. True Wealth Design LLC boosted its stake 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 valued at $46,000 after acquiring an additional 104 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of 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 purchasing an additional 94 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of EMCOR Group in the 3rd quarter valued at about $55,000. Harbor Capital Advisors Inc. purchased a new position in EMCOR Group during the 3rd quarter worth approximately $62,000. Finally, Rakuten Securities Inc. increased its position in EMCOR Group by 4,025.0% during the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company's stock worth $71,000 after buying an additional 161 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Northcoast Research started coverage on EMCOR Group in a report on Friday, November 22nd. They issued a "buy" rating and a $600.00 price objective for the company. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a "sell" rating and a $445.00 target price for the company. Finally, Stifel Nicolaus lowered their target price on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $497.25.

EMCOR Group Price Performance

EME traded down $15.44 during trading on Tuesday, reaching $380.29. 141,751 shares of the stock were exchanged, compared to its average volume of 507,636. EMCOR Group, Inc. has a 1 year low of $313.48 and a 1 year high of $545.29. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 19.31 and a beta of 1.11. The business's 50 day moving average price is $457.03 and its two-hundred day moving average price is $449.90.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Thursday, January 16th. EMCOR Group's dividend payout ratio (DPR) is presently 4.64%.

EMCOR Group announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership 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.