Austin Private Wealth LLC Acquires Shares of 394 EMCOR Group, Inc. $EME

Austin Private Wealth LLC acquired a new stake in EMCOR Group, Inc. (NYSE:EME) during the second quarter, Holdings Channel reports. The fund acquired 394 shares of the construction company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in EMCOR Group by 43.6% in the 1st quarter. AQR Capital Management LLC now owns 703,456 shares of the construction company’s stock valued at $253,065,000 after purchasing an additional 213,631 shares in the last quarter. Northern Trust Corp lifted its holdings in EMCOR Group by 3.7% in the 1st quarter. Northern Trust Corp now owns 571,487 shares of the construction company’s stock valued at $211,239,000 after purchasing an additional 20,604 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in EMCOR Group by 3,878.2% in the 1st quarter. Pacer Advisors Inc. now owns 534,585 shares of the construction company’s stock valued at $197,599,000 after purchasing an additional 521,147 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in EMCOR Group by 13.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 518,354 shares of the construction company’s stock valued at $275,184,000 after purchasing an additional 60,693 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its holdings in EMCOR Group by 6.9% in the 1st quarter. Burgundy Asset Management Ltd. now owns 515,522 shares of the construction company’s stock valued at $190,552,000 after purchasing an additional 33,069 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. DA Davidson lifted their price target on EMCOR Group from $515.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, August 1st. William Blair assumed coverage on EMCOR Group in a report on Thursday, September 11th. They set an “outperform” rating on the stock. Northcoast Research lowered EMCOR Group from a “buy” rating to a “neutral” rating and set a $500.00 price target on the stock. in a report on Thursday, August 7th. Stifel Nicolaus lifted their price target on EMCOR Group from $692.00 to $718.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $495.00 to $676.00 in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and an average price target of $654.83.

EMCOR Group Stock Up 3.3%

Shares of NYSE:EME opened at $776.12 on Thursday. The business has a 50-day moving average price of $655.59 and a 200 day moving average price of $559.02. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $34.74 billion, a price-to-earnings ratio of 32.20 and a beta of 1.24. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.68 by $1.04. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.10 billion. EMCOR Group had a return on equity of 38.01% and a net margin of 7.07%.The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $5.25 EPS. Sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Shareholders of record on Wednesday, October 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 15th. EMCOR Group’s payout ratio is currently 4.15%.

EMCOR Group Company 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.