Cerity Partners LLC Acquires 7,419 Shares of EMCOR Group, Inc. (NYSE:EME)

Cerity Partners LLC grew its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 142.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,641 shares of the construction company’s stock after acquiring an additional 7,419 shares during the period. Cerity Partners LLC’s holdings in EMCOR Group were worth $5,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Caprock Group LLC lifted its holdings in shares of EMCOR Group by 0.4% during the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after purchasing an additional 22 shares during the last quarter. First Horizon Advisors Inc. increased its position in EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after buying an additional 27 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its stake in EMCOR Group by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock valued at $357,000 after buying an additional 30 shares during the last quarter. Mount Lucas Management LP boosted its holdings in EMCOR Group by 2.5% in the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock worth $598,000 after acquiring an additional 34 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in EMCOR Group by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock worth $587,000 after acquiring an additional 43 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

EMCOR Group Price Performance

EME stock opened at $507.95 on Friday. The company has a market capitalization of $23.37 billion, a P/E ratio of 25.80 and a beta of 1.07. EMCOR Group, Inc. has a 12 month low of $209.31 and a 12 month high of $532.38. The firm’s fifty day simple moving average is $464.81 and its 200-day simple moving average is $406.25.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.61 earnings per share. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

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.