Advisors Asset Management Inc. Increases Position in EMCOR Group, Inc. (NYSE:EME)

Advisors Asset Management Inc. raised its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 14.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,506 shares of the construction company’s stock after purchasing an additional 3,557 shares during the period. Advisors Asset Management Inc.’s holdings in EMCOR Group were worth $12,273,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Matrix Trust Co bought a new position in EMCOR Group during the 2nd quarter valued at approximately $26,000. Proffitt & Goodson Inc. bought a new position in shares of EMCOR Group during the second quarter valued at $27,000. Innealta Capital LLC bought a new position in shares of EMCOR Group during the second quarter valued at $29,000. ORG Partners LLC purchased a new position in shares of EMCOR Group in the 2nd quarter worth about $31,000. Finally, ORG Wealth Partners LLC bought a new position in EMCOR Group in the 3rd quarter worth about $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EME has been the subject of a number of analyst reports. DA Davidson raised 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 upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus initiated coverage on shares of EMCOR Group in a report on Friday, November 15th. They issued a “buy” rating and a $600.00 price objective for the company.

EMCOR Group Price Performance

EMCOR Group stock opened at $514.00 on Wednesday. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $525.31. The business’s fifty day moving average is $446.58 and its 200 day moving average is $398.95. The stock has a market capitalization of $23.64 billion, a PE ratio of 26.10 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business earned $3.61 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts expect that EMCOR Group, Inc. will post 20.75 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 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.