Jefferies Financial Group Inc. Makes New $40.12 Million Investment in EMCOR Group, Inc. $EME

Jefferies Financial Group Inc. acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the third quarter, HoldingsChannel.com reports. The fund acquired 53,175 shares of the construction company’s stock, valued at approximately $40,120,000.

Several other hedge funds also recently made changes to their positions in EME. Machina Capital S.A.S. increased its stake in shares of EMCOR Group by 116.4% during the third quarter. Machina Capital S.A.S. now owns 4,128 shares of the construction company’s stock worth $3,115,000 after acquiring an additional 2,220 shares during the period. Northbridge Financial Group LLC purchased a new position in EMCOR Group during the third quarter worth about $230,000. Knights of Columbus Asset Advisors LLC raised its holdings in EMCOR Group by 0.4% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 9,314 shares of the construction company’s stock worth $7,027,000 after purchasing an additional 40 shares in the last quarter. Lido Advisors LLC lifted its position in EMCOR Group by 128.1% in the third quarter. Lido Advisors LLC now owns 2,883 shares of the construction company’s stock valued at $2,175,000 after purchasing an additional 1,619 shares during the period. Finally, Keybank National Association OH lifted its position in EMCOR Group by 3.6% in the third quarter. Keybank National Association OH now owns 1,791 shares of the construction company’s stock valued at $1,351,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a report on Tuesday, October 20th. Robert W. Baird increased their target price on EMCOR Group from $900.00 to $918.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Oppenheimer cut their target price on EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Monday, November 2nd. DA Davidson set a $1,047.00 price target on EMCOR Group in a report on Monday, August 10th. Finally, UBS Group decreased their price target on EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $902.88.

EMCOR Group Trading Up 3.3%

EME stock opened at $666.66 on Thursday. The company has a market cap of $29.19 billion, a P/E ratio of 19.26 and a beta of 1.16. EMCOR Group, Inc. has a 52 week low of $564.92 and a 52 week high of $951.96. The company’s 50-day moving average price is $725.87 and its 200 day moving average price is $777.99.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, topping the consensus estimate of $8.37 by $1.23. EMCOR Group had a net margin of 7.78% and a return on equity of 36.65%. The company had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business posted $6.57 earnings per share. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, equities research analysts expect that EMCOR Group, Inc. will post 34.79 earnings per share for the current year.

EMCOR Group announced that its board has authorized a share repurchase program on Thursday, October 29th that permits the company to buy back $500 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s payout ratio is 4.62%.

EMCOR Group Company Profile

EMCOR Group is a provider of mechanical and electrical construction and facilities services. Through its operating companies, it designs, installs, maintains and upgrades building systems and related infrastructure for commercial, industrial, institutional and government customers. Its services include heating, ventilation and air conditioning; electrical and power systems; plumbing and piping; building automation; energy infrastructure; and ongoing facilities management. The company also provides industrial services, such as maintenance and support for process and manufacturing facilities.