Bridgewater Associates LP Buys 5,902 Shares of EMCOR Group, Inc. (NYSE:EME)

Bridgewater Associates LP lifted its position in EMCOR Group, Inc. (NYSE:EME) by 36.3% during the 3rd quarter, Holdings Channel reports. The firm owned 22,163 shares of the construction company’s stock after buying an additional 5,902 shares during the quarter. Bridgewater Associates LP’s holdings in EMCOR Group were worth $9,542,000 at the end of the most recent reporting period.

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

EMCOR Group Trading Down 1.3 %

Shares of NYSE:EME opened at $507.95 on Friday. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38. The stock has a market capitalization of $23.37 billion, a P/E ratio of 25.80 and a beta of 1.07. The business has a 50-day moving average price of $464.81 and a two-hundred day moving average price of $406.25.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping 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 business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm posted $3.61 earnings per share. EMCOR Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus began coverage on EMCOR Group in a report on Friday, November 15th. 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 issued a “sell” rating and a $445.00 price objective for the company. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Northcoast Research assumed coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.