EMCOR Group, Inc. $EME Stake Raised by Kestra Investment Management LLC

Kestra Investment Management LLC increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 116.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,479 shares of the construction company’s stock after buying an additional 1,334 shares during the period. Kestra Investment Management LLC’s holdings in EMCOR Group were worth $1,871,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mascoma Wealth Management LLC acquired a new position in EMCOR Group in the third quarter valued at approximately $26,000. Ascentis Independent Advisors acquired a new stake in EMCOR Group during the 1st quarter worth $27,000. NBH Bank acquired a new stake in EMCOR Group during the 2nd quarter worth $27,000. GK Wealth Management LLC acquired a new stake in EMCOR Group during the 3rd quarter worth $31,000. Finally, Basecamp Wealth Advisors LLC raised its position in shares of EMCOR Group by 4,700.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 48 shares of the construction company’s stock valued at $35,000 after acquiring an additional 47 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EME shares. JPMorgan Chase & Co. initiated coverage on EMCOR Group in a research note on Tuesday. They issued a “neutral” rating and a $700.00 price target on the stock. Cantor Fitzgerald decreased 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. Robert W. Baird upped their price objective on EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, The Goldman Sachs Group cut their target price on EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $902.88.

EMCOR Group Stock Performance

Shares of EME opened at $644.38 on Wednesday. The stock has a 50 day simple moving average of $727.24 and a 200 day simple moving average of $778.13. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96. The firm has a market capitalization of $28.21 billion, a PE ratio of 18.61 and a beta of 1.16.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, beating analysts’ consensus estimates of $8.37 by $1.23. EMCOR Group had a net margin of 7.78% and a return on equity of 36.65%. The firm had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $6.57 earnings per share. The business’s revenue was up 28.8% on a year-over-year basis. Equities research analysts predict that EMCOR Group, Inc. will post 34.79 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

EMCOR Group announced that its board has approved a stock repurchase plan on Thursday, October 29th that authorizes the company to buy back $500 million in shares. This repurchase authorization authorizes the construction company to purchase up to 1.7% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Profile

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.