Investment Management Corp of Ontario Raises Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Investment Management Corp of Ontario increased its stake in EMCOR Group, Inc. (NYSE:EME) by 1,124.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,241 shares of the construction company’s stock after acquiring an additional 11,241 shares during the period. Investment Management Corp of Ontario’s holdings in EMCOR Group were worth $5,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caprock Group LLC increased its stake in EMCOR Group by 0.4% in the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock worth $2,513,000 after buying an additional 22 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of EMCOR Group by 13.0% during the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after purchasing an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its position in EMCOR Group by 3.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock valued at $357,000 after acquiring an additional 30 shares in the last quarter. Mount Lucas Management LP raised its position in shares of EMCOR Group by 2.5% in the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock worth $598,000 after acquiring an additional 34 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in EMCOR Group by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

EMCOR Group Stock Performance

Shares of EME stock opened at $509.50 on Wednesday. The firm’s 50 day moving average price is $469.25 and its 200-day moving average price is $409.43. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38. The firm has a market cap of $23.44 billion, a P/E ratio of 25.88 and a beta of 1.09.

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

EMCOR Group Announces Dividend

The business also recently disclosed 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 of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is presently 5.08%.

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.