Edgestream Partners L.P. Invests $3.35 Million in EMCOR Group, Inc. (NYSE:EME)

Edgestream Partners L.P. bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,791 shares of the construction company’s stock, valued at approximately $3,354,000.

Several other institutional investors also recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec increased its holdings in EMCOR Group by 45.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after buying an additional 88,074 shares during the period. Verition Fund Management LLC increased its holdings in EMCOR Group by 390.2% during the third quarter. Verition Fund Management LLC now owns 15,623 shares of the construction company’s stock valued at $6,726,000 after buying an additional 12,436 shares during the period. Captrust Financial Advisors increased its holdings in EMCOR Group by 14.2% during the third quarter. Captrust Financial Advisors now owns 5,670 shares of the construction company’s stock valued at $2,441,000 after buying an additional 703 shares during the period. Walleye Capital LLC increased its holdings in EMCOR Group by 140.0% during the third quarter. Walleye Capital LLC now owns 4,407 shares of the construction company’s stock valued at $1,897,000 after buying an additional 2,571 shares during the period. Finally, Vinva Investment Management Ltd increased its holdings in EMCOR Group by 172.0% during the third quarter. Vinva Investment Management Ltd now owns 28,776 shares of the construction company’s stock valued at $12,290,000 after buying an additional 18,198 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Trading Up 0.4 %

NYSE:EME opened at $510.12 on Monday. EMCOR Group, Inc. has a 12 month low of $209.31 and a 12 month high of $532.38. The firm has a fifty day simple moving average of $466.32 and a 200-day simple moving average of $407.59. The company has a market capitalization of $23.47 billion, a P/E ratio of 25.91 and a beta of 1.07.

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

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were paid 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 dividend yield of 0.20%. EMCOR Group’s payout ratio is currently 5.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EME shares. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note 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 target price for the company. Stifel Nicolaus started coverage on shares of EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EMCOR Group presently has a consensus 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.