Convergence Investment Partners LLC Buys 492 Shares of EMCOR Group, Inc. (NYSE:EME)

Convergence Investment Partners LLC boosted its stake in EMCOR Group, Inc. (NYSE:EME) by 13.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,037 shares of the construction company’s stock after purchasing an additional 492 shares during the period. Convergence Investment Partners LLC’s holdings in EMCOR Group were worth $1,832,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in EME. Creative Planning raised its position in EMCOR Group by 5.3% in the third quarter. Creative Planning now owns 9,939 shares of the construction company’s stock worth $4,279,000 after acquiring an additional 504 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of EMCOR Group in the third quarter worth about $362,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of EMCOR Group by 1.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,491 shares of the construction company’s stock worth $1,934,000 after purchasing an additional 75 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of EMCOR Group in the third quarter worth about $49,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of EMCOR Group by 654.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 498 shares of the construction company’s stock worth $214,000 after purchasing an additional 432 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EME. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus assumed coverage on shares of EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Trading Up 1.7 %

Shares of NYSE:EME opened at $433.64 on Wednesday. The company has a 50 day moving average of $469.45 and a 200 day moving average of $445.97. The stock has a market cap of $19.95 billion, a P/E ratio of 22.02 and a beta of 1.11. EMCOR Group, Inc. has a 12 month low of $248.31 and a 12 month high of $545.29.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors 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 yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 5.08%.

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.