Zimmer Partners LP Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Zimmer Partners LP purchased a new position in EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,000 shares of the construction company’s stock, valued at approximately $8,611,000.

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

EMCOR Group Price Performance

EMCOR Group stock opened at $509.33 on Friday. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38. The firm has a market capitalization of $23.43 billion, a P/E ratio of 25.87 and a beta of 1.09. The company’s 50-day moving average is $474.16 and its 200 day moving average is $411.75.

EMCOR Group (NYSE:EME) last issued 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 business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.61 EPS. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EME. 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 on the stock. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus began coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, EMCOR Group has an average rating of “Moderate Buy” and an average 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.