Nomura Asset Management Co. Ltd. Acquires 8,013 Shares of EMCOR Group, Inc. (NYSE:EME)

Nomura Asset Management Co. Ltd. boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 64.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 20,417 shares of the construction company’s stock after purchasing an additional 8,013 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in EMCOR Group were worth $8,790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EME. Sequoia Financial Advisors LLC lifted its holdings in shares of EMCOR Group by 8.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 643 shares of the construction company’s stock worth $235,000 after acquiring an additional 50 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of EMCOR Group in the second quarter worth approximately $31,000. Swedbank AB bought a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $8,785,000. Blue Trust Inc. boosted its holdings in EMCOR Group by 119.3% during the 2nd quarter. Blue Trust Inc. now owns 3,044 shares of the construction company’s stock valued at $1,066,000 after acquiring an additional 1,656 shares during the period. Finally, Petra Financial Advisors Inc. bought a new position in EMCOR Group in the 2nd quarter valued at $647,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Northcoast Research initiated coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective for the company. Stifel Nicolaus began coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.75.

EMCOR Group Stock Performance

Shares of EME opened at $480.33 on Friday. The company has a 50 day moving average price of $478.06 and a 200-day moving average price of $414.17. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $532.38. The stock has a market capitalization of $22.10 billion, a PE ratio of 24.39 and a beta of 1.09.

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

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.21%. 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.