Weiss Asset Management LP Takes Position in EMCOR Group, Inc. (NYSE:EME)

Weiss Asset Management LP bought a new position in EMCOR Group, Inc. (NYSE:EME) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 47,710 shares of the construction company’s stock, valued at approximately $20,541,000. Weiss Asset Management LP owned about 0.10% of EMCOR Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. lifted its stake in EMCOR Group by 52.0% in the 2nd quarter. Mather Group LLC. now owns 310 shares of the construction company’s stock worth $109,000 after acquiring an additional 106 shares in the last quarter. CWM LLC grew its stake in EMCOR Group by 165.3% in the second quarter. CWM LLC now owns 2,258 shares of the construction company’s stock valued at $824,000 after purchasing an additional 1,407 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in EMCOR Group in the second quarter worth approximately $339,000. Ignite Planners LLC boosted its holdings in EMCOR Group by 27.5% in the second quarter. Ignite Planners LLC now owns 751 shares of the construction company’s stock worth $272,000 after purchasing an additional 162 shares in the last quarter. Finally, Curated Wealth Partners LLC boosted its stake in shares of EMCOR Group by 171.6% during the 2nd quarter. Curated Wealth Partners LLC now owns 3,065 shares of the construction company’s stock worth $1,119,000 after acquiring an additional 7,343 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Down 0.2 %

EME opened at $513.49 on Friday. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38. The business has a 50 day moving average of $472.52 and a 200-day moving average of $410.88. The stock has a market capitalization of $23.62 billion, a price-to-earnings ratio of 26.08 and a beta of 1.09.

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

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a $0.25 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.19%. EMCOR Group’s dividend payout ratio (DPR) is currently 5.08%.

Analyst Ratings Changes

Several research firms recently weighed in on EME. The Goldman Sachs Group assumed coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. Stifel Nicolaus assumed coverage on shares of EMCOR Group in a research note 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. Finally, Northcoast Research began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Company 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.