EMCOR Group, Inc. $EME Stock: UNIVEST FINANCIAL Corp Decreases Holdings

UNIVEST FINANCIAL Corp reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,386 shares of the construction company’s stock after selling 988 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in EMCOR Group were worth $7,082,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EME. NBH Bank purchased a new position in shares of EMCOR Group in the 2nd quarter valued at about $27,000. Mascoma Wealth Management LLC purchased a new position in EMCOR Group during the third quarter worth approximately $26,000. Ascentis Independent Advisors acquired a new stake in EMCOR Group in the first quarter valued at approximately $27,000. GK Wealth Management LLC acquired a new stake in EMCOR Group in the third quarter valued at approximately $31,000. Finally, Clearstead Trust LLC purchased a new stake in shares of EMCOR Group in the second quarter valued at approximately $38,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 3.3%

NYSE EME opened at $666.66 on Thursday. EMCOR Group, Inc. has a 52 week low of $564.92 and a 52 week high of $951.96. The business’s fifty day simple moving average is $725.87 and its 200-day simple moving average is $777.99. The firm has a market cap of $29.19 billion, a PE ratio of 19.26 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.37 by $1.23. EMCOR Group had a net margin of 7.78% and a return on equity of 36.65%. The firm had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $6.57 earnings per share. EMCOR Group’s quarterly revenue was up 28.8% on a year-over-year basis. Research analysts expect that EMCOR Group, Inc. will post 34.79 EPS for the current year.

EMCOR Group announced that its board has authorized a stock repurchase plan on Thursday, October 29th that permits the company to repurchase $500 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 1.7% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

EMCOR Group Announces Dividend

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

Wall Street Analyst Weigh In

EME has been the topic of a number of research analyst reports. Cantor Fitzgerald dropped their price target on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a research note on Monday, November 2nd. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. DA Davidson set a $1,047.00 price objective on shares of EMCOR Group in a research report on Monday, August 10th. Robert W. Baird increased their price objective on shares of EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, UBS Group dropped their target price on shares of EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $902.88.

EMCOR Group 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.