Wright Investors Service Inc. Buys New Shares in EMCOR Group, Inc. (NYSE:EME)

Wright Investors Service Inc. bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,067 shares of the construction company’s stock, valued at approximately $484,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of EMCOR Group by 1.5% in the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after acquiring an additional 24,541 shares during the last quarter. Geode Capital Management LLC raised its stake in EMCOR Group by 5.2% during the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after purchasing an additional 49,137 shares during the period. AQR Capital Management LLC boosted its holdings in shares of EMCOR Group by 27.5% in the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after purchasing an additional 88,909 shares during the last quarter. Allspring Global Investments Holdings LLC grew 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 buying an additional 14,447 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of EMCOR Group by 11.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after buying an additional 34,226 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Up 0.1 %

NYSE EME opened at $467.59 on Tuesday. EMCOR Group, Inc. has a fifty-two week low of $217.08 and a fifty-two week high of $532.38. The business has a 50 day moving average price of $487.81 and a two-hundred day moving average price of $427.86. The stock has a market cap of $21.51 billion, a PE ratio of 23.75 and a beta of 1.12.

EMCOR Group (NYSE:EME) last posted its 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. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.61 earnings per share. Sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. EMCOR Group’s dividend payout ratio is presently 5.08%.

Wall Street Analyst Weigh In

EME has been the subject of a number of research reports. The Goldman Sachs Group assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target for the company. Northcoast Research initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus started coverage on shares of EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.75.

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.