1,619 EMCOR Group, Inc. $EME Shares Purchased by Lido Advisors LLC

Lido Advisors LLC lifted its stake in EMCOR Group, Inc. (NYSE:EME) by 128.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,883 shares of the construction company’s stock after acquiring an additional 1,619 shares during the period. Lido Advisors LLC’s holdings in EMCOR Group were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EME. NBH Bank purchased a new position in EMCOR Group during the second quarter valued at $27,000. Mascoma Wealth Management LLC bought a new stake in EMCOR Group during the third quarter valued at about $26,000. GK Wealth Management LLC bought a new stake in EMCOR Group during the third quarter valued at about $31,000. Clearstead Trust LLC purchased a new stake in EMCOR Group in the second quarter worth about $38,000. Finally, Orion Capital Management LLC purchased a new stake in EMCOR Group in the second quarter worth about $39,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EME has been the topic of several recent research reports. Robert W. Baird raised their price objective on EMCOR Group from $900.00 to $918.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Cantor Fitzgerald cut their price objective on EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating for the company in a research note on Monday, November 2nd. The Goldman Sachs Group reduced their target price on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating for the company in a report on Tuesday, October 20th. UBS Group decreased their target price on shares of EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Finally, Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $902.88.

EMCOR Group Trading Down 0.6%

EMCOR Group stock traded down $3.85 during mid-day trading on Friday, hitting $658.92. The stock had a trading volume of 292,362 shares, compared to its average volume of 546,215. The firm has a market capitalization of $28.85 billion, a P/E ratio of 19.03 and a beta of 1.16. The firm’s 50 day moving average is $722.81 and its 200 day moving average is $777.48. EMCOR Group, Inc. has a one year low of $564.92 and a one year high of $951.96.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share (EPS) 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 business had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $6.57 EPS. EMCOR Group’s revenue for the quarter was up 28.8% compared to the same quarter last year. As a group, equities research analysts forecast that EMCOR Group, Inc. will post 34.79 earnings per share for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 29th that authorizes the company to repurchase $500 million in shares. This buyback authorization authorizes the construction company to reacquire up to 1.7% of its stock through open market purchases. Share buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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.