State Street Corp Has $694.35 Million Position in EMCOR Group, Inc. (NYSE:EME)

State Street Corp increased its position in EMCOR Group, Inc. (NYSE:EME) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,612,782 shares of the construction company’s stock after buying an additional 24,541 shares during the period. State Street Corp owned 3.51% of EMCOR Group worth $694,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EME. Proffitt & Goodson Inc. acquired a new position in EMCOR Group during the second quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in EMCOR Group during the third quarter valued at approximately $33,000. Innealta Capital LLC acquired a new position in EMCOR Group during the second quarter valued at approximately $29,000. ORG Partners LLC acquired a new position in EMCOR Group during the second quarter valued at approximately $31,000. Finally, Anchor Investment Management LLC grew its holdings in EMCOR Group by 89.3% during the second quarter. Anchor Investment Management LLC now owns 106 shares of the construction company’s stock valued at $39,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the topic of several analyst reports. Northcoast Research initiated coverage on EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. Stifel Nicolaus initiated coverage on EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price target on the stock. The Goldman Sachs Group initiated coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective for the company. Finally, StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.75.

EMCOR Group Trading Down 0.9 %

EME opened at $509.03 on Monday. 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 $23.42 billion, a price-to-earnings ratio of 25.85 and a beta of 1.09. The business has a 50 day moving average of $474.16 and a 200-day moving average of $412.08.

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

EMCOR Group Announces Dividend

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 of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.20%. EMCOR Group’s dividend payout ratio (DPR) is currently 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.