1,334 EMCOR Group, Inc. $EME Shares Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC raised its position in EMCOR Group, Inc. (NYSE:EME) by 116.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,479 shares of the construction company’s stock after buying an additional 1,334 shares during the period. Kestra Investment Management LLC’s holdings in EMCOR Group were worth $1,871,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC raised its position in EMCOR Group by 26.4% in the 3rd quarter. AlphaCore Capital LLC now owns 1,021 shares of the construction company’s stock valued at $770,000 after purchasing an additional 213 shares during the last quarter. Running Oak Capital LLC boosted its stake in EMCOR Group by 3.5% in the third quarter. Running Oak Capital LLC now owns 13,320 shares of the construction company’s stock worth $10,050,000 after purchasing an additional 453 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in EMCOR Group in the third quarter worth $57,000. Allspring Global Investments Holdings LLC boosted its stake in EMCOR Group by 15.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 208,793 shares of the construction company’s stock worth $160,568,000 after purchasing an additional 27,869 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of EMCOR Group by 24.6% during the third quarter. Candriam S.C.A. now owns 8,583 shares of the construction company’s stock worth $6,499,000 after purchasing an additional 1,694 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. started coverage on EMCOR Group in a research note on Tuesday. They issued a “neutral” rating and a $700.00 target price for the company. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. The Goldman Sachs Group reduced their price target on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 20th. UBS Group decreased their price objective on shares of EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Finally, Robert W. Baird raised their price objective on shares of EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $902.88.

EMCOR Group Stock Performance

NYSE:EME opened at $644.38 on Wednesday. The stock’s fifty day moving average price is $727.24 and its two-hundred day moving average price is $778.13. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.16.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 EPS for the quarter, beating analysts’ consensus estimates of $8.37 by $1.23. The firm had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.19 billion. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period last year, the company earned $6.57 EPS. On average, equities analysts predict that EMCOR Group, Inc. will post 34.79 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, October 15th. EMCOR Group’s dividend payout ratio is 4.62%.

EMCOR Group announced that its Board of Directors has approved a share buyback program on Thursday, October 29th that permits the company to repurchase $500 million in shares. This repurchase authorization permits the construction company to reacquire up to 1.7% of its shares through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its shares are undervalued.

EMCOR Group Company Profile

EMCOR Group is a provider of mechanical and electrical construction and facilities services. Through its operating companies, it designs, installs, maintains and upgrades building systems and related infrastructure for commercial, industrial, institutional and government customers. Its services include heating, ventilation and air conditioning; electrical and power systems; plumbing and piping; building automation; energy infrastructure; and ongoing facilities management. The company also provides industrial services, such as maintenance and support for process and manufacturing facilities.