Summit Global Investments Raises Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

by · The Cerbat Gem

Summit Global Investments grew its stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 58.4% during the third quarter, HoldingsChannel.com reports. The fund owned 10,821 shares of the construction company’s stock after buying an additional 3,991 shares during the quarter. Summit Global Investments’ holdings in EMCOR Group were worth $4,659,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Matrix Trust Co bought a new stake in EMCOR Group in the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group in the 2nd quarter worth $27,000. Innealta Capital LLC purchased a new position in shares of EMCOR Group in the 2nd quarter worth $29,000. ORG Partners LLC bought a new stake in shares of EMCOR Group in the second quarter worth $31,000. Finally, ORG Wealth Partners LLC purchased a new stake in EMCOR Group during the third quarter valued at $33,000. 92.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. DA Davidson boosted their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

Check Out Our Latest Stock Report on EMCOR Group

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $504.48 on Friday. The stock’s fifty day moving average is $427.08 and its 200 day moving average is $390.62. EMCOR Group, Inc. has a one year low of $207.31 and a one year high of $509.46. The stock has a market cap of $23.21 billion, a P/E ratio of 25.62 and a beta of 1.07.

EMCOR Group (NYSE:EME – Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 earnings per share. Analysts predict that EMCOR Group, Inc. will post 20.75 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently declared 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 payout ratio is presently 5.08%.

EMCOR Group Profile

(Free Report)

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.

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