Cassaday & Co Wealth Management LLC Raises Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Cassaday & Co Wealth Management LLC raised its position in shares of EMCOR Group, Inc. (NYSE:EME) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 830 shares of the construction company’s stock after buying an additional 30 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in EMCOR Group were worth $357,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Matrix Trust Co purchased a new stake in EMCOR Group in the second quarter valued at approximately $26,000. Proffitt & Goodson Inc. purchased a new stake in shares of EMCOR Group in the 2nd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new stake in shares of EMCOR Group in the 3rd quarter valued at $33,000. Innealta Capital LLC acquired a new stake in shares of EMCOR Group in the second quarter worth $29,000. Finally, ORG Partners LLC purchased a new position in shares of EMCOR Group during the second quarter worth $31,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. DA Davidson upped their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus assumed coverage on EMCOR Group in a research report on Friday. They set a “buy” rating and a $600.00 price target for the company.

EMCOR Group Stock Performance

EME stock opened at $500.91 on Tuesday. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $525.31. The firm’s fifty day moving average is $443.84 and its 200 day moving average is $397.93. The firm has a market cap of $23.04 billion, a PE ratio of 25.44 and a beta of 1.07.

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

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 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.