Measured Wealth Private Client Group LLC bought a new stake in EMCOR Group, Inc. (NYSE:EME – Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,096 shares of the construction company’s stock, valued at approximately $472,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Burgundy Asset Management Ltd. increased its stake in shares of EMCOR Group by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after acquiring an additional 11,479 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of EMCOR Group by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after acquiring an additional 134,575 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after acquiring an additional 88,909 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of EMCOR Group by 4.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after acquiring an additional 14,447 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after acquiring an additional 116,300 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. DA Davidson upped their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.
EMCOR Group Stock Performance
EME opened at $431.77 on Thursday. The firm has a 50 day moving average price of $415.78 and a 200 day moving average price of $385.33. The company has a market cap of $20.29 billion, a PE ratio of 28.48 and a beta of 1.07. EMCOR Group, Inc. has a 1 year low of $204.11 and a 1 year high of $456.16.
EMCOR Group (NYSE:EME – Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 EPS. On average, sell-side analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.
EMCOR Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.
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.
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