Victory Capital Management Inc. Purchases 59,546 Shares of EMCOR Group, Inc. (NYSE:EME)

Victory Capital Management Inc. increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 91.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,704 shares of the construction company’s stock after buying an additional 59,546 shares during the period. Victory Capital Management Inc. owned about 0.27% of EMCOR Group worth $53,689,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EME. Burgundy Asset Management Ltd. grew its stake in shares of EMCOR Group by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after purchasing an additional 11,479 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after buying an additional 134,575 shares during the period. AQR Capital Management LLC lifted its holdings in EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after buying an additional 88,909 shares during the period. Allspring Global Investments Holdings LLC boosted its position in EMCOR Group by 4.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after acquiring an additional 14,447 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in EMCOR Group by 3.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock worth $114,299,000 after acquiring an additional 9,755 shares during the period. 92.59% of the stock is owned by institutional investors.

EMCOR Group Trading Down 0.4 %

EME opened at $498.31 on Friday. The company has a market cap of $22.92 billion, a P/E ratio of 25.17 and a beta of 1.07. The company has a fifty day moving average price of $438.03 and a two-hundred day moving average price of $395.70. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $525.31.

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 return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business earned $3.61 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, research analysts forecast that EMCOR Group, Inc. will post 20.75 EPS for the current fiscal 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 payout ratio is currently 5.08%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DA Davidson upped their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

EMCOR Group Company 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.