Plato Investment Management Ltd Takes Position in EMCOR Group, Inc. (NYSE:EME)

Plato Investment Management Ltd acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,841 shares of the construction company’s stock, valued at approximately $1,222,000.

Other hedge funds have also recently made changes to their positions in the company. Saturna Capital Corp boosted its holdings in EMCOR Group by 12.9% during the third quarter. Saturna Capital Corp now owns 960 shares of the construction company’s stock worth $413,000 after purchasing an additional 110 shares during the last quarter. Victory Capital Management Inc. raised its position in EMCOR Group by 91.4% in the third quarter. Victory Capital Management Inc. now owns 124,704 shares of the construction company’s stock worth $53,689,000 after acquiring an additional 59,546 shares during the period. Aptus Capital Advisors LLC bought a new stake in EMCOR Group in the third quarter worth about $239,000. Cumberland Partners Ltd raised its position in EMCOR Group by 60.0% in the third quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock worth $1,722,000 after acquiring an additional 1,500 shares during the period. Finally, Rakuten Securities Inc. raised its position in EMCOR Group by 4,025.0% in the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after acquiring an additional 161 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on EME. DA Davidson lifted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

EMCOR Group Stock Down 0.4 %

NYSE EME opened at $498.31 on Friday. The company’s 50 day moving average is $438.03 and its 200-day moving average is $395.70. EMCOR Group, Inc. has a 12-month low of $209.31 and a 12-month high of $525.31. The firm has a market cap of $22.92 billion, a P/E ratio of 25.31 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion during 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%. EMCOR Group’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.61 earnings per share. Equities analysts expect that EMCOR Group, Inc. will post 20.75 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.20%. 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.