EMCOR Group, Inc. $EME Stock: Kestra Advisory Services LLC Raises Holdings

Kestra Advisory Services LLC lifted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 66.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,592 shares of the construction company’s stock after acquiring an additional 2,642 shares during the period. Kestra Advisory Services LLC’s holdings in EMCOR Group were worth $4,974,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. REAP Financial Group LLC boosted its stake in EMCOR Group by 12.6% in the 3rd quarter. REAP Financial Group LLC now owns 330 shares of the construction company’s stock worth $249,000 after buying an additional 37 shares during the last quarter. Platform Technology Partners acquired a new position in shares of EMCOR Group during the 3rd quarter valued at about $211,000. Chicago Partners Investment Group LLC increased its stake in shares of EMCOR Group by 16.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,454 shares of the construction company’s stock valued at $1,589,000 after acquiring an additional 346 shares during the last quarter. Compass Financial Management LLC increased its stake in shares of EMCOR Group by 11.4% during the 3rd quarter. Compass Financial Management LLC now owns 615 shares of the construction company’s stock valued at $464,000 after acquiring an additional 63 shares during the last quarter. Finally, AIA Group Ltd lifted its holdings in shares of EMCOR Group by 97.0% during the 3rd quarter. AIA Group Ltd now owns 1,044 shares of the construction company’s stock worth $788,000 after acquiring an additional 514 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $662.94 on Friday. The business’s 50-day simple moving average is $724.44 and its 200 day simple moving average is $777.76. The company has a market cap of $29.02 billion, a P/E ratio of 20.40 and a beta of 1.16. EMCOR Group, Inc. has a one year low of $564.92 and a one year high of $951.96.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.37 by $1.23. The company had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.19 billion. EMCOR Group had a net margin of 7.78% and a return on equity of 36.65%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the firm posted $6.57 earnings per share. Analysts predict that EMCOR Group, Inc. will post 34.79 earnings per share for the current year.

EMCOR Group announced that its Board of Directors has initiated a share repurchase program on Thursday, October 29th that authorizes the company to repurchase $500 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.7% of its shares through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

EMCOR Group Dividend Announcement

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

Analyst Upgrades and Downgrades

EME has been the subject of several research analyst reports. Oppenheimer dropped their price target on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. DA Davidson set a $1,047.00 price target on shares of EMCOR Group in a report on Monday, August 10th. UBS Group lowered their price objective on shares of EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Finally, The Goldman Sachs Group dropped their price objective on EMCOR Group from $885.00 to $795.00 and set a “neutral” rating for the company in a report on Tuesday, October 20th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $902.88.

EMCOR Group 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.