Pekin Hardy Strauss Inc. Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Pekin Hardy Strauss Inc. acquired a new stake in EMCOR Group, Inc. (NYSE:EME) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 925 shares of the construction company’s stock, valued at approximately $398,000.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in shares of EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after buying an additional 134,575 shares during the last quarter. Panagora Asset Management Inc. raised its stake in EMCOR Group by 155.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after acquiring an additional 126,148 shares during the period. Renaissance Technologies LLC lifted its holdings in EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in EMCOR Group by 971.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after purchasing an additional 91,837 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after purchasing an additional 88,909 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EME has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday. They set a “sell” rating and a $445.00 target price for the company. Northcoast Research initiated coverage on shares of EMCOR Group in a research report on Friday. They set a “buy” rating and a $600.00 price objective for the company. Stifel Nicolaus initiated coverage on EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price on the stock. Finally, StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Stock Down 4.2 %

NYSE EME opened at $504.92 on Monday. The firm has a 50-day moving average price of $457.00 and a two-hundred day moving average price of $402.81. EMCOR Group, Inc. has a 12-month low of $209.31 and a 12-month high of $532.38. The company has a market capitalization of $23.23 billion, a P/E ratio of 25.64 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.61 earnings per share. Equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.20%. EMCOR Group’s dividend payout ratio is 5.08%.

EMCOR Group Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.