Bridgewater Associates LP Has $9.54 Million Position in EMCOR Group, Inc. (NYSE:EME)

Bridgewater Associates LP boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 36.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,163 shares of the construction company’s stock after purchasing an additional 5,902 shares during the quarter. Bridgewater Associates LP’s holdings in EMCOR Group were worth $9,542,000 at the end of the most recent quarter.

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

EMCOR Group Trading Down 1.3 %

Shares of NYSE:EME opened at $507.95 on Friday. The firm has a market capitalization of $23.37 billion, a PE ratio of 25.80 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38. The business’s 50 day moving average is $464.81 and its 200-day moving average is $406.25.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company earned $3.61 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given 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 (DPR) is presently 5.08%.

Wall Street Analyst Weigh In

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

EMCOR Group 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.