Zurcher Kantonalbank Zurich Cantonalbank Purchases 33,648 Shares of EMCOR Group, Inc. (NYSE:EME)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EMCOR Group, Inc. (NYSE:EME) by 243.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,479 shares of the construction company’s stock after acquiring an additional 33,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EMCOR Group were worth $20,441,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EME. Caprock Group LLC raised its holdings in EMCOR Group by 0.4% in the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock worth $2,513,000 after acquiring an additional 22 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of EMCOR Group by 13.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after purchasing an additional 27 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its stake in shares of EMCOR Group by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock worth $357,000 after purchasing an additional 30 shares during the last quarter. Mount Lucas Management LP lifted its holdings in shares of EMCOR Group by 2.5% during the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock valued at $598,000 after purchasing an additional 34 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of EMCOR Group by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 0.6 %

Shares of NYSE:EME opened at $511.11 on Friday. The stock has a market capitalization of $23.51 billion, a PE ratio of 25.96 and a beta of 1.07. The firm’s 50 day moving average price is $466.32 and its 200-day moving average price is $407.21. EMCOR Group, Inc. has a twelve month low of $209.31 and a twelve month high of $532.38.

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, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm earned $3.61 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EME. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. Stifel Nicolaus began coverage on shares of EMCOR Group in a report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price on the stock. Finally, Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and a consensus price target of $518.75.

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.