Proficio Capital Partners LLC Invests $23.94 Million in EMCOR Group, Inc. (NYSE:EME)

Proficio Capital Partners LLC purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 52,745 shares of the construction company's stock, valued at approximately $23,941,000. Proficio Capital Partners LLC owned 0.11% of EMCOR Group at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EME. Arkadios Wealth Advisors increased its holdings in EMCOR Group by 14.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 631 shares of the construction company's stock valued at $272,000 after purchasing an additional 80 shares during the period. First Trust Direct Indexing L.P. increased its holdings in EMCOR Group by 14.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,739 shares of the construction company's stock valued at $749,000 after purchasing an additional 219 shares during the period. SteelPeak Wealth LLC increased its holdings in EMCOR Group by 15.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,160 shares of the construction company's stock valued at $499,000 after purchasing an additional 156 shares during the period. AustralianSuper Pty Ltd purchased a new position in EMCOR Group during the 3rd quarter valued at about $1,107,000. Finally, Cigna Investments Inc. New purchased a new position in EMCOR Group during the 3rd quarter valued at about $214,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

EME has been the topic of a number of research analyst reports. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Northcoast Research initiated coverage on EMCOR Group in a report on Friday, November 22nd. They set a "buy" rating and a $600.00 target price on the stock. The Goldman Sachs Group initiated coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a "sell" rating and a $445.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research report on Thursday. 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, EMCOR Group presently has a consensus rating of "Moderate Buy" and an average price target of $497.25.

EMCOR Group Trading Down 3.2 %

EME stock traded down $13.18 during midday trading on Monday, hitting $395.73. The company's stock had a trading volume of 560,355 shares, compared to its average volume of 517,509. The company has a market cap of $18.00 billion, a PE ratio of 20.10 and a beta of 1.11. EMCOR Group, Inc. has a 12 month low of $313.48 and a 12 month high of $545.29. The firm's 50-day moving average is $458.38 and its 200-day moving average is $449.73.

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

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group's dividend payout ratio (DPR) is currently 4.64%.

EMCOR Group declared that its board has initiated a share buyback program on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

About EMCOR Group

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.