EMCOR Group, Inc. $EME Stock Holdings Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,052 shares of the construction company’s stock after purchasing an additional 794 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of EMCOR Group worth $74,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in EMCOR Group during the 2nd quarter worth $3,416,412,000. First Trust Advisors LP increased its stake in EMCOR Group by 7.3% during the 1st quarter. First Trust Advisors LP now owns 630,406 shares of the construction company’s stock valued at $465,435,000 after purchasing an additional 42,949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in EMCOR Group by 9.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 416,734 shares of the construction company’s stock worth $345,839,000 after acquiring an additional 34,358 shares during the period. Deutsche Bank AG bought a new position in EMCOR Group during the second quarter worth about $342,273,000. Finally, Value Aligned Research Advisors LLC boosted its position in shares of EMCOR Group by 56.6% in the second quarter. Value Aligned Research Advisors LLC now owns 349,960 shares of the construction company’s stock valued at $290,425,000 after acquiring an additional 126,439 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on EME shares. The Goldman Sachs Group decreased their target price on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. UBS Group restated a “buy” rating and issued a $1,065.00 price objective (up from $975.00) on shares of EMCOR Group in a report on Friday, October 9th. Cantor Fitzgerald cut their target price on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a research note on Monday. DA Davidson set a $1,047.00 price objective on shares of EMCOR Group in a report on Monday, August 10th. Finally, Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $951.86.

EMCOR Group Stock Up 3.3%

EME stock opened at $705.44 on Wednesday. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96. The firm has a market cap of $30.88 billion, a P/E ratio of 20.38 and a beta of 1.16. The company’s 50-day simple moving average is $739.61 and its 200-day simple moving average is $779.84.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 EPS for the quarter, topping the consensus estimate of $8.37 by $1.23. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The company had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business earned $6.57 EPS. EMCOR Group’s quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts anticipate that EMCOR Group, Inc. will post 35.13 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, October 15th. EMCOR Group’s dividend payout ratio is 4.62%.

EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 29th that permits the company to repurchase $500 million in shares. This repurchase authorization permits the construction company to buy up to 1.7% of its stock through open market purchases. Share repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction, engineering, and building services through a network of specialty contracting businesses. Its core activities include electrical and mechanical construction, energy infrastructure, building systems, facilities services, and industrial maintenance. The company serves commercial, institutional, industrial, manufacturing, healthcare, education, government, and infrastructure customers.

Its services cover the design, installation, operation, maintenance, and upgrading of electrical, heating, ventilation, air-conditioning, plumbing, fire protection, and building automation systems.