Kestra Investment Management LLC Buys Shares of 1,684 EMCOR Group, Inc. (NYSE:EME)

Kestra Investment Management LLC purchased a new position in EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,684 shares of the construction company’s stock, valued at approximately $725,000.

Other institutional investors have also made changes to their positions in the company. Caprock Group LLC grew its position in EMCOR Group by 0.4% in the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after purchasing an additional 22 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after buying an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in shares of EMCOR Group by 3.8% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock worth $357,000 after buying an additional 30 shares during the last quarter. Mount Lucas Management LP increased its position in shares of EMCOR Group by 2.5% in the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock valued at $598,000 after acquiring an additional 34 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of EMCOR Group by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after acquiring an additional 43 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $510.12 on Monday. EMCOR Group, Inc. has a 1 year low of $209.31 and a 1 year high of $532.38. The company has a market capitalization of $23.47 billion, a price-to-earnings ratio of 25.91 and a beta of 1.07. The business has a fifty day simple moving average of $466.32 and a two-hundred day simple moving average of $407.59.

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

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.20%. EMCOR Group’s payout ratio is currently 5.08%.

Analysts Set New Price Targets

EME has been the subject of a number of analyst reports. Stifel Nicolaus started coverage on EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 price target 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. Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $518.75.

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.