Forsta AP Fonden Increases Position in EMCOR Group, Inc. (NYSE:EME)

Forsta AP Fonden lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 5.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,081 shares of the construction company’s stock after buying an additional 1,100 shares during the quarter. Forsta AP Fonden’s holdings in EMCOR Group were worth $8,645,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after buying an additional 139,919 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of EMCOR Group by 155.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after acquiring an additional 126,148 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after purchasing an additional 91,837 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after purchasing an additional 88,909 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EME shares. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson lifted 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 Performance

NYSE:EME opened at $428.58 on Monday. The firm has a market capitalization of $20.14 billion, a PE ratio of 28.27 and a beta of 1.07. The stock’s fifty day moving average is $411.96 and its 200 day moving average is $383.61. EMCOR Group, Inc. has a fifty-two week low of $201.96 and a fifty-two week high of $456.16.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Tuesday, October 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date is Tuesday, October 15th. EMCOR Group’s payout ratio is currently 6.60%.

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.