Summit Global Investments Acquires 3,991 Shares of EMCOR Group, Inc. (NYSE:EME)

Summit Global Investments lifted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 58.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,821 shares of the construction company’s stock after acquiring 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.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Matrix Trust Co bought a new position in EMCOR Group in the 2nd quarter worth $26,000. Proffitt & Goodson Inc. bought a new position in EMCOR Group in the second quarter worth about $27,000. Innealta Capital LLC purchased a new stake in EMCOR Group in the second quarter worth about $29,000. ORG Partners LLC bought a new stake in EMCOR Group during the 2nd quarter valued at approximately $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of EMCOR Group during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EME shares. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson increased their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Stock Up 0.5 %

EMCOR Group stock opened at $504.48 on Friday. EMCOR Group, Inc. has a twelve month low of $207.31 and a twelve month high of $509.46. The company has a market capitalization of $23.21 billion, a P/E ratio of 25.62 and a beta of 1.07. The stock’s 50 day moving average is $427.08 and its 200 day moving average is $390.62.

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

EMCOR Group Dividend Announcement

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