EMCOR Group, Inc. $EME Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in EMCOR Group, Inc. (NYSE:EME) by 69.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,712 shares of the construction company’s stock after purchasing an additional 3,567 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EMCOR Group were worth $5,659,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Quent Capital LLC acquired a new position in EMCOR Group during the third quarter worth about $29,000. Orion Capital Management LLC purchased a new position in EMCOR Group in the 3rd quarter worth approximately $31,000. Tobam boosted its holdings in shares of EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EMCOR Group during the 2nd quarter worth approximately $43,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of EMCOR Group by 37.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock valued at $59,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EME shares. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. DA Davidson raised their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $495.00 to $676.00 in a report on Tuesday, October 7th. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Stock Performance

EMCOR Group stock opened at $721.29 on Monday. The company’s 50 day simple moving average is $645.50 and its 200-day simple moving average is $641.30. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $778.64. The company has a market capitalization of $32.29 billion, a price-to-earnings ratio of 29.00 and a beta of 1.17.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $6.57. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.27 billion. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $5.80 EPS. Equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its board has approved a share buyback program on Thursday, December 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, January 14th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s payout ratio is presently 6.43%.

About EMCOR Group

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.