EMCOR Group, Inc. $EME Position Lifted by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. raised its position in EMCOR Group, Inc. (NYSE:EME) by 6.6% during the third quarter, HoldingsChannel.com reports. The firm owned 36,737 shares of the construction company’s stock after purchasing an additional 2,274 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in EMCOR Group were worth $27,721,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EME. R Squared Ltd lifted its holdings in shares of EMCOR Group by 54.5% in the 3rd quarter. R Squared Ltd now owns 479 shares of the construction company’s stock worth $361,000 after buying an additional 169 shares during the period. CENTRAL TRUST Co grew its position in shares of EMCOR Group by 53.1% during the 3rd quarter. CENTRAL TRUST Co now owns 323 shares of the construction company’s stock worth $244,000 after buying an additional 112 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of EMCOR Group by 12.7% during the third quarter. Maryland State Retirement & Pension System now owns 2,724 shares of the construction company’s stock valued at $2,055,000 after buying an additional 306 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of EMCOR Group during the third quarter valued at $40,120,000. Finally, Machina Capital S.A.S. increased its stake in shares of EMCOR Group by 116.4% during the third quarter. Machina Capital S.A.S. now owns 4,128 shares of the construction company’s stock valued at $3,115,000 after buying an additional 2,220 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

EME has been the topic of several recent research reports. Oppenheimer dropped their target price 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. Cantor Fitzgerald reduced their price target on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating for the company in a report on Monday, November 2nd. UBS Group lowered their price target on shares of EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. JPMorgan Chase & Co. started coverage on shares of EMCOR Group in a research note on Tuesday. They set a “neutral” rating and a $700.00 price objective on the stock. Finally, 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 note on Tuesday, October 20th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $902.88.

EMCOR Group Trading Down 0.6%

Shares of NYSE:EME opened at $658.92 on Friday. The company has a market capitalization of $28.85 billion, a PE ratio of 20.27 and a beta of 1.16. EMCOR Group, Inc. has a 12-month low of $564.92 and a 12-month high of $951.96. The business’s fifty day simple moving average is $722.81 and its 200-day simple moving average is $777.48.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data 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 firm had revenue of $5.54 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the business posted $6.57 EPS. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. Research analysts predict that EMCOR Group, Inc. will post 34.79 EPS for the current year.

EMCOR Group Announces Dividend

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

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

EMCOR Group Company 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.