Quest Partners LLC Boosts Stake in EMCOR Group, Inc. (NYSE:EME)

Quest Partners LLC lifted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 43.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,217 shares of the construction company’s stock after acquiring an additional 968 shares during the period. Quest Partners LLC’s holdings in EMCOR Group were worth $1,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new position in EMCOR Group during the 2nd quarter valued at approximately $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group during the 2nd quarter worth $27,000. Innealta Capital LLC bought a new position in shares of EMCOR Group in the second quarter worth approximately $29,000. ORG Partners LLC purchased a new stake in EMCOR Group in the 2nd quarter worth $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of EMCOR Group during the third quarter valued at about $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

Shares of EME stock opened at $514.00 on Wednesday. The stock’s fifty day moving average is $446.58 and its two-hundred day moving average is $398.95. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $525.31. The firm has a market capitalization of $23.64 billion, a P/E ratio of 26.10 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm earned $3.61 earnings per share. EMCOR Group’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that EMCOR Group, Inc. will post 20.75 earnings per share for the current year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. EMCOR Group’s payout ratio is currently 5.08%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EME. Stifel Nicolaus started coverage on shares of EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price objective for the company. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, DA Davidson increased their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

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.