EMCOR Group, Inc. $EME Position Raised by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its stake in EMCOR Group, Inc. (NYSE:EME – Free Report) by 66.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,592 shares of the construction company’s stock after purchasing an additional 2,642 shares during the period. Kestra Advisory Services LLC’s holdings in EMCOR Group were worth $4,974,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer cut their price target on EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Robert W. Baird boosted their price objective on EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings downgraded EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Cantor Fitzgerald lowered their target price on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a research report on Monday, November 2nd. Finally, The Goldman Sachs Group lowered 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 report on Tuesday, October 20th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $902.88.

View Our Latest Research Report on EMCOR Group

EMCOR Group Stock Performance

EMCOR Group stock opened at $662.94 on Friday. The company has a market cap of $29.02 billion, a P/E ratio of 20.40 and a beta of 1.16. EMCOR Group, Inc. has a one year low of $564.92 and a one year high of $951.96. The business has a fifty day moving average of $724.44 and a two-hundred day moving average of $777.76.

EMCOR Group (NYSE:EME – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.37 by $1.23. The business had revenue of $5.54 billion during the quarter, compared to the consensus estimate 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 was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm posted $6.57 EPS. Sell-side analysts predict that EMCOR Group, Inc. will post 34.79 EPS for the current year.

EMCOR Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 29th that permits the company to repurchase $500 million in outstanding shares. This repurchase authorization permits 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 Dividend Announcement

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

About EMCOR Group

(Free Report)

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.

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Institutional Ownership by Quarter for EMCOR Group (NYSE:EME)

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