Covestor Ltd Buys 50 Shares of EMCOR Group, Inc. (NYSE:EME)

Covestor Ltd boosted its stake in EMCOR Group, Inc. (NYSE:EME) by 10.1% in the third quarter, HoldingsChannel reports. The firm owned 545 shares of the construction company’s stock after acquiring an additional 50 shares during the period. Covestor Ltd’s holdings in EMCOR Group were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in EME. Matrix Trust Co bought a new stake in shares of EMCOR Group in the second quarter worth $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group during the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of EMCOR Group during the 3rd quarter valued at about $33,000. Innealta Capital LLC bought a new position in shares of EMCOR Group in the 2nd quarter worth approximately $29,000. Finally, ORG Partners LLC purchased a new position in shares of EMCOR Group in the second quarter worth approximately $31,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EME has been the subject of a number of research reports. DA Davidson upped their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

EMCOR Group Trading Up 1.9 %

Shares of NYSE:EME opened at $514.15 on Friday. The stock has a 50 day moving average of $429.51 and a 200 day moving average of $392.25. The company has a market cap of $23.65 billion, a PE ratio of 26.11 and a beta of 1.07. EMCOR Group, Inc. has a 12-month low of $207.36 and a 12-month high of $519.10.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.82. The business had revenue of $3.70 billion for 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 company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.61 earnings per share. Equities research analysts predict that EMCOR Group, Inc. will post 20.75 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm 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. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. EMCOR Group’s dividend payout ratio is presently 5.08%.

About EMCOR Group

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.