Fiduciary Trust Co Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Fiduciary Trust Co acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 545 shares of the construction company’s stock, valued at approximately $235,000.

A number of other institutional investors also recently modified their holdings of EME. Acadian Asset Management LLC grew its position in EMCOR Group by 34.4% in the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after purchasing an additional 134,575 shares during the period. AQR Capital Management LLC lifted its stake in shares of EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after buying an additional 88,909 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of EMCOR Group by 4.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after buying an additional 14,447 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of EMCOR Group by 3.8% during the third quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock worth $114,299,000 after acquiring an additional 9,755 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after acquiring an additional 116,300 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Trading Up 0.4 %

Shares of EME opened at $510.12 on Monday. The stock has a 50 day moving average of $466.32 and a 200 day moving average of $407.59. EMCOR Group, Inc. has a 12 month low of $209.31 and a 12 month high of $532.38. The company has a market capitalization of $23.47 billion, a price-to-earnings ratio of 25.91 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.61 EPS. As a group, equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is currently 5.08%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EME shares. The Goldman Sachs Group initiated coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price target for the company. Stifel Nicolaus assumed coverage on EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price target for the company. Northcoast Research started coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. Finally, StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $518.75.

About EMCOR Group

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.