EMCOR Group, Inc. $EME Stock Position Boosted by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. boosted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 36,737 shares of the construction company’s stock after purchasing an additional 2,274 shares during the quarter. Eurizon Capital SGR S.p.A. owned about 0.08% of EMCOR Group worth $27,721,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in EMCOR Group in the 2nd quarter worth about $3,416,412,000. First Trust Advisors LP boosted its holdings in shares of EMCOR Group by 7.3% during the 1st quarter. First Trust Advisors LP now owns 630,406 shares of the construction company’s stock valued at $465,435,000 after acquiring an additional 42,949 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of EMCOR Group by 9.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 416,734 shares of the construction company’s stock valued at $345,839,000 after acquiring an additional 34,358 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of EMCOR Group during the 2nd quarter valued at about $342,273,000. Finally, Value Aligned Research Advisors LLC grew its stake in shares of EMCOR Group by 56.6% in the second quarter. Value Aligned Research Advisors LLC now owns 349,960 shares of the construction company’s stock worth $290,425,000 after acquiring an additional 126,439 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EME shares. Cantor Fitzgerald decreased their target price on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating for the company in a research note on Monday, November 2nd. Weiss Ratings downgraded EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Robert W. Baird lifted their price objective on EMCOR Group from $900.00 to $918.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Oppenheimer cut their price objective on EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. Finally, The Goldman Sachs Group reduced their price objective on EMCOR Group from $885.00 to $795.00 and set a “neutral” rating for the company in a research report on Tuesday, October 20th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $902.88.

EMCOR Group Stock Down 0.6%

NYSE:EME opened at $658.92 on Friday. The business’s 50-day simple moving average is $722.81 and its two-hundred day simple moving average is $777.48. EMCOR Group, Inc. has a 52 week low of $564.92 and a 52 week high of $951.96. The stock has a market cap of $28.85 billion, a PE ratio of 20.27 and a beta of 1.16.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, topping the consensus estimate of $8.37 by $1.23. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The business had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company posted $6.57 EPS. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. Sell-side analysts anticipate that EMCOR Group, Inc. will post 34.79 earnings per share for the current fiscal year.

EMCOR Group announced that its board has authorized a stock buyback plan on Thursday, October 29th that authorizes the company to buy back $500 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 1.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

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

About EMCOR Group

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.