Access Financial Services Inc. Makes New Investment in EMCOR Group, Inc. $EME

Access Financial Services Inc. bought a new position in EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 2,422 shares of the construction company’s stock, valued at approximately $1,827,000. EMCOR Group comprises approximately 0.6% of Access Financial Services Inc.’s investment portfolio, making the stock its 26th biggest position.

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

EMCOR Group Price Performance

NYSE EME traded down $3.85 during trading hours on Friday, hitting $658.92. The company’s stock had a trading volume of 292,362 shares, compared to its average volume of 546,215. EMCOR Group, Inc. has a 12 month low of $564.92 and a 12 month high of $951.96. The company’s 50 day simple moving average is $722.81 and its two-hundred day simple moving average is $777.48. The company has a market cap of $28.85 billion, a P/E ratio of 19.03 and a beta of 1.16.

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

EMCOR Group declared that its Board of Directors has authorized a share buyback plan on Thursday, October 29th that authorizes the company to buy back $500 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.7% of its shares through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

EMCOR Group Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on EME. JPMorgan Chase & Co. initiated coverage on shares of EMCOR Group in a research note on Tuesday, November 10th. They set a “neutral” rating and a $700.00 price objective for the company. The Goldman Sachs Group dropped 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. Cantor Fitzgerald cut 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 report on Monday, November 2nd. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, DA Davidson set a $1,047.00 target price on EMCOR Group in a research note on Monday, August 10th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, EMCOR Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $902.88.

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.