EMCOR Group, Inc. $EME Stock Bought by Lido Advisors LLC

Lido Advisors LLC increased its holdings in EMCOR Group, Inc. (NYSE:EME) by 128.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,883 shares of the construction company’s stock after buying an additional 1,619 shares during the quarter. Lido Advisors LLC’s holdings in EMCOR Group were worth $2,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. bought a new position in EMCOR Group during the 2nd quarter valued at 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 grew its stake in shares of EMCOR Group by 9.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 416,734 shares of the construction company’s stock worth $345,839,000 after acquiring an additional 34,358 shares during the period. Deutsche Bank AG bought a new stake in shares of EMCOR Group in the second quarter worth approximately $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. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EME. Oppenheimer decreased their price objective on shares of 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. Cantor Fitzgerald dropped their target price on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a report on Monday, November 2nd. Weiss Ratings downgraded shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Robert W. Baird boosted their target price on shares of EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. began coverage on EMCOR Group in a report on Tuesday, November 10th. They set a “neutral” rating and a $700.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $902.88.

EMCOR Group Stock Down 0.6%

NYSE:EME traded down $3.85 on Friday, hitting $658.92. The stock had a trading volume of 292,362 shares, compared to its average volume of 546,215. The business’s 50-day simple moving average is $722.81 and its two-hundred day simple moving average is $777.48. The stock has a market cap of $28.85 billion, a price-to-earnings ratio of 19.03 and a beta of 1.16. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $9.60 EPS for the quarter, beating the consensus estimate 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 earned $6.57 EPS. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that EMCOR Group, Inc. will post 34.79 EPS for the current year.

EMCOR Group announced that its Board of Directors has approved a share buyback plan on Thursday, October 29th that allows the company to repurchase $500 million in shares. This buyback authorization allows the construction company to buy up to 1.7% of its shares through open market purchases. Share buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were given a dividend of $0.40 per share. 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 4.62%.

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.