True Wealth Design LLC Increases Position in EMCOR Group, Inc. (NYSE:EME)

True Wealth Design LLC lifted its holdings in EMCOR Group, Inc. (NYSE:EME) by 3,466.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107 shares of the construction company’s stock after buying an additional 104 shares during the quarter. True Wealth Design LLC’s holdings in EMCOR Group were worth $46,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares during the period. AQR Capital Management LLC grew its holdings in shares of EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after purchasing an additional 88,909 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in EMCOR Group by 4.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock worth $152,427,000 after buying an additional 14,447 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $144,016,000 after buying an additional 34,226 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after buying an additional 88,074 shares during the period. 92.59% of the stock is owned by institutional investors.

EMCOR Group Price Performance

Shares of EME stock opened at $510.12 on Monday. The stock’s 50-day moving average is $466.32 and its 200 day moving average is $407.59. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38. The company has a market cap of $23.47 billion, a P/E ratio of 25.91 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating 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 company’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $3.61 EPS. On average, analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EME. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. Northcoast Research assumed coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Stifel Nicolaus started coverage on shares of EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently 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.