Verition Fund Management LLC Boosts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Verition Fund Management LLC grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 390.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,623 shares of the construction company’s stock after buying an additional 12,436 shares during the quarter. Verition Fund Management LLC’s holdings in EMCOR Group were worth $6,726,000 as of its most recent SEC filing.

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

EMCOR Group Stock Performance

EME stock opened at $510.12 on Monday. EMCOR Group, Inc. has a 1 year low of $209.31 and a 1 year high of $532.38. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 25.91 and a beta of 1.07. The stock’s fifty day moving average is $466.32 and its two-hundred day moving average is $407.59.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating 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 firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm posted $3.61 EPS. EMCOR Group’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced 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 dividend payout ratio is currently 5.08%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EME. The Goldman Sachs Group started coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target for the company. Northcoast Research assumed coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price on the stock. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus assumed coverage on shares of EMCOR Group in a research note on Friday, November 15th. They set a “buy” rating and a $600.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average target price of $518.75.

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.