Penserra Capital Management LLC Purchases 4,512 Shares of EMCOR Group, Inc. (NYSE:EME)

Penserra Capital Management LLC grew its position in shares of EMCOR Group, Inc. (NYSE:EME) by 2,088.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,728 shares of the construction company’s stock after acquiring an additional 4,512 shares during the quarter. Penserra Capital Management LLC’s holdings in EMCOR Group were worth $2,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EME. Matrix Trust Co bought a new position in EMCOR Group during the second quarter valued at $26,000. Proffitt & Goodson Inc. bought a new position in shares of EMCOR Group in the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in EMCOR Group in the third quarter worth about $33,000. Innealta Capital LLC bought a new stake in EMCOR Group during the second quarter worth approximately $29,000. Finally, ORG Partners LLC purchased a new stake in EMCOR Group during the second quarter valued at approximately $31,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 1.2 %

Shares of EMCOR Group stock opened at $510.91 on Tuesday. The stock’s fifty day moving average is $457.00 and its two-hundred day moving average is $402.97. EMCOR Group, Inc. has a 52 week low of $209.31 and a 52 week high of $532.38. The company has a market capitalization of $23.50 billion, a PE ratio of 25.83 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the business posted $3.61 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. EMCOR Group’s payout ratio is 5.08%.

Analyst Upgrades and Downgrades

EME has been the subject of a number of recent research reports. Northcoast Research began coverage on EMCOR Group in a report on Friday. They issued a “buy” rating and a $600.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday. They set a “sell” rating and a $445.00 price objective for the company. 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 on the stock. Finally, StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group 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.