35,331 Shares in EMCOR Group, Inc. (NYSE:EME) Purchased by CCM Investment Advisers LLC

CCM Investment Advisers LLC bought a new position in EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,331 shares of the construction company’s stock, valued at approximately $15,211,000. EMCOR Group comprises about 1.7% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 26th biggest position. CCM Investment Advisers LLC owned approximately 0.08% of EMCOR Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Burgundy Asset Management Ltd. grew its stake in shares of EMCOR Group by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after purchasing an additional 11,479 shares during the last quarter. Acadian Asset Management LLC boosted its position in EMCOR Group by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after acquiring an additional 134,575 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in EMCOR Group by 20.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock valued at $152,170,000 after acquiring an additional 73,975 shares in the last quarter. AQR Capital Management LLC boosted its position in EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after acquiring an additional 88,909 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after acquiring an additional 116,300 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. DA Davidson boosted their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Stock Down 1.1 %

Shares of EME opened at $442.16 on Friday. The business’s 50 day moving average price is $391.87 and its 200-day moving average price is $376.32. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $448.10. The stock has a market cap of $20.63 billion, a P/E ratio of 25.32 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the firm posted $2.95 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s payout ratio is currently 5.73%.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.26% of the company’s stock.

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.