EMCOR Group, Inc. (NYSE:EME) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,363 shares of the construction company’s stock after buying an additional 43 shares during the quarter. CIBC Asset Management Inc’s holdings in EMCOR Group were worth $587,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Acadian Asset Management LLC lifted its stake in EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares during the last quarter. Panagora Asset Management Inc. lifted 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 worth $75,668,000 after buying an additional 126,148 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after buying an additional 116,300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of EMCOR Group by 971.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after buying an additional 91,837 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after acquiring an additional 88,909 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EME has been the topic of several research reports. DA Davidson raised their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus started coverage on EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price target on the stock. Finally, StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

EMCOR Group Trading Up 0.4 %

EMCOR Group stock opened at $515.82 on Thursday. The stock has a market capitalization of $23.73 billion, a price-to-earnings ratio of 26.20 and a beta of 1.07. The stock has a 50 day moving average of $449.43 and a two-hundred day moving average of $400.01. EMCOR Group, Inc. has a twelve month low of $209.31 and a twelve month high of $525.31.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. EMCOR Group’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $3.61 EPS. Equities analysts predict that EMCOR Group, Inc. will post 20.75 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is presently 5.08%.

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.