1,694 EMCOR Group, Inc. $EME Shares Purchased by Candriam S.C.A.

Candriam S.C.A. raised its holdings in EMCOR Group, Inc. (NYSE:EME) by 24.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,583 shares of the construction company’s stock after buying an additional 1,694 shares during the period. Candriam S.C.A.’s holdings in EMCOR Group were worth $6,499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in EMCOR Group during the 2nd quarter valued at $3,416,412,000. Deutsche Bank AG bought a new position in EMCOR Group during the second quarter worth $342,273,000. Bank of America Corp DE bought a new position in EMCOR Group during the second quarter worth $282,509,000. Bank of New York Mellon Corp acquired a new position in shares of EMCOR Group in the second quarter valued at $207,597,000. Finally, Legal & General Group Plc acquired a new position in shares of EMCOR Group in the second quarter valued at $168,025,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE EME opened at $644.38 on Wednesday. The firm has a market cap of $28.21 billion, a price-to-earnings ratio of 19.97 and a beta of 1.16. The stock’s fifty day moving average price is $727.24 and its two-hundred day moving average price is $778.13. EMCOR Group, Inc. has a one year low of $564.92 and a one year high of $951.96.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.19 billion. During the same quarter last year, the firm earned $6.57 earnings per share. The company’s revenue was up 28.8% on a year-over-year basis. On average, equities analysts anticipate that EMCOR Group, Inc. will post 34.79 earnings per share for the current fiscal year.

EMCOR Group announced that its board has authorized a share repurchase plan on Thursday, October 29th that allows the company to repurchase $500 million in shares. This repurchase authorization allows the construction company to buy up to 1.7% of its shares through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were given 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 of this dividend was Thursday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is currently 4.62%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EME. The Goldman Sachs Group dropped their price objective on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 20th. Weiss Ratings downgraded shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. UBS Group reduced their target price on shares of EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Cantor Fitzgerald decreased their price target 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, November 2nd. Finally, Oppenheimer lowered their price target on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Monday, November 2nd. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $902.88.

About EMCOR Group

EMCOR Group is a provider of mechanical and electrical construction and facilities services. Through its operating companies, it designs, installs, maintains and upgrades building systems and related infrastructure for commercial, industrial, institutional and government customers. Its services include heating, ventilation and air conditioning; electrical and power systems; plumbing and piping; building automation; energy infrastructure; and ongoing facilities management. The company also provides industrial services, such as maintenance and support for process and manufacturing facilities.