EMCOR Group, Inc. (NYSE:EME) Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,554 shares of the construction company’s stock after purchasing an additional 228 shares during the quarter. M&T Bank Corp’s holdings in EMCOR Group were worth $1,530,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

EME has been the topic of a number of recent analyst reports. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price objective for the company. Finally, Northcoast Research assumed coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective on the stock. One investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $479.28 on Friday. EMCOR Group, Inc. has a 1 year low of $209.31 and a 1 year high of $532.38. The firm has a market capitalization of $22.05 billion, a PE ratio of 24.34 and a beta of 1.09. The business’s 50 day moving average price is $478.94 and its 200-day moving average price is $414.88.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $3.61 EPS. As a group, analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a $0.25 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. EMCOR Group’s 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.