Sumitomo Mitsui Trust Group Inc. Buys 1,467 Shares of EMCOR Group, Inc. (NYSE:EME)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,754 shares of the construction company’s stock after purchasing an additional 1,467 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of EMCOR Group worth $44,239,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. increased its position in shares of EMCOR Group by 1.7% during the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after buying an additional 11,479 shares during the period. Acadian Asset Management LLC increased its holdings in EMCOR Group by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after acquiring an additional 134,575 shares during the period. AQR Capital Management LLC lifted its stake in EMCOR Group by 27.5% in the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after purchasing an additional 88,909 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in EMCOR Group by 4.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after purchasing an additional 14,447 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in shares of EMCOR Group by 3.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock valued at $114,299,000 after purchasing an additional 9,755 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

EME has been the topic of a number of recent analyst reports. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus began coverage on EMCOR Group in a report on Friday. They issued a “buy” rating and a $600.00 price target on the stock. Finally, DA Davidson boosted 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.

EMCOR Group Stock Performance

EMCOR Group stock opened at $498.74 on Friday. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $525.31. The stock has a market cap of $22.94 billion, a P/E ratio of 25.33 and a beta of 1.07. The firm’s fifty day moving average price is $440.92 and its 200-day moving average price is $396.41.

EMCOR Group (NYSE:EME) last released its quarterly earnings results 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. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the business posted $3.61 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts predict that EMCOR Group, Inc. will post 20.75 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is currently 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.