Sumitomo Mitsui Trust Group Inc. Acquires 1,467 Shares of EMCOR Group, Inc. (NYSE:EME)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 102,754 shares of the construction company’s stock after acquiring an additional 1,467 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in EMCOR Group were worth $44,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Matrix Trust Co purchased a new stake in EMCOR Group during the 2nd quarter valued at about $26,000. Proffitt & Goodson Inc. bought a new stake in EMCOR Group in the second quarter valued at approximately $27,000. Innealta Capital LLC purchased a new stake in shares of EMCOR Group during the second quarter valued at approximately $29,000. ORG Partners LLC bought a new position in shares of EMCOR Group in the second quarter worth approximately $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of EMCOR Group in the third quarter worth $33,000. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Up 0.1 %

NYSE:EME opened at $498.74 on Friday. The firm’s fifty day simple moving average is $440.92 and its 200 day simple moving average is $396.41. The stock has a market cap of $22.94 billion, a P/E ratio of 25.33 and a beta of 1.07. EMCOR Group, Inc. has a twelve month low of $209.31 and a twelve month high of $525.31.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $3.61 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts expect that EMCOR Group, Inc. will post 20.75 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend 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 Analysts Forecast Growth

Several brokerages have weighed in on EME. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research report on Friday. They set a “buy” rating and a $600.00 price target for the company. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, DA Davidson boosted their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th.

EMCOR Group Profile

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.