EMCOR Group, Inc. (NYSE:EME) Stake Raised by Bank of Montreal Can

Bank of Montreal Can boosted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,261 shares of the construction company’s stock after purchasing an additional 82 shares during the quarter. Bank of Montreal Can’s holdings in EMCOR Group were worth $5,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Private Trust Co. NA grew its holdings in shares of EMCOR Group by 153.6% during the 3rd quarter. Private Trust Co. NA now owns 246 shares of the construction company’s stock valued at $106,000 after purchasing an additional 149 shares during the last quarter. Hancock Whitney Corp boosted its stake in EMCOR Group by 2.3% during the 3rd quarter. Hancock Whitney Corp now owns 57,370 shares of the construction company’s stock valued at $24,700,000 after purchasing an additional 1,309 shares during the last quarter. DRW Securities LLC increased its stake in EMCOR Group by 21.4% in the 3rd quarter. DRW Securities LLC now owns 3,643 shares of the construction company’s stock worth $1,568,000 after buying an additional 643 shares in the last quarter. Independent Advisor Alliance increased its stake in EMCOR Group by 25.0% during the third quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock worth $2,261,000 after acquiring an additional 1,049 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of EMCOR Group by 24.2% during the third quarter. Daiwa Securities Group Inc. now owns 26,040 shares of the construction company’s stock valued at $11,211,000 after acquiring an additional 5,070 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus began coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price objective for the company. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. Finally, Northcoast Research started coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Stock Performance

EME stock opened at $509.50 on Wednesday. The company has a market capitalization of $23.44 billion, a P/E ratio of 25.88 and a beta of 1.09. The company has a fifty day moving average price of $469.25 and a 200-day moving average price of $409.43. EMCOR Group, Inc. has a 52-week low of $209.31 and a 52-week high of $532.38.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data 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. The company 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%. EMCOR Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $3.61 EPS. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. 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 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.