Assenagon Asset Management S.A. Has $36.02 Million Position in EMCOR Group, Inc. (NYSE:EME)

Assenagon Asset Management S.A. lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 66.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,654 shares of the construction company’s stock after purchasing an additional 33,491 shares during the period. Assenagon Asset Management S.A.’s holdings in EMCOR Group were worth $36,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EME. Matrix Trust Co acquired a new position in EMCOR Group during the second quarter worth approximately $26,000. Proffitt & Goodson Inc. bought a new stake in EMCOR Group in the 2nd quarter valued at $27,000. Innealta Capital LLC acquired a new stake in EMCOR Group during the 2nd quarter valued at $29,000. ORG Partners LLC bought a new position in EMCOR Group during the second quarter worth $31,000. Finally, Independence Bank of Kentucky bought a new position in EMCOR Group during the first quarter worth $33,000. 92.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the sale, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson raised their price target on shares of 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

EMCOR Group stock opened at $446.07 on Friday. The stock has a fifty day moving average of $410.72 and a 200-day moving average of $382.92. The stock has a market capitalization of $20.96 billion, a P/E ratio of 29.42 and a beta of 1.07. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $456.16.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 earnings per share. On average, research analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th will be given a $0.25 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. EMCOR Group’s dividend 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.