Geode Capital Management LLC Increases Stake in EMCOR Group, Inc. (NYSE:EME)

Geode Capital Management LLC increased its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 996,668 shares of the construction company's stock after purchasing an additional 49,137 shares during the quarter. Geode Capital Management LLC owned 2.17% of EMCOR Group worth $428,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Caprock Group LLC raised its holdings in EMCOR Group by 0.4% during the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company's stock valued at $2,513,000 after buying an additional 22 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of EMCOR Group by 13.0% during the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company's stock valued at $101,000 after acquiring an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in shares of EMCOR Group by 3.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company's stock worth $357,000 after purchasing an additional 30 shares during the period. Mount Lucas Management LP grew its stake in shares of EMCOR Group by 2.5% in the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company's stock worth $598,000 after purchasing an additional 34 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of EMCOR Group by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company's stock worth $587,000 after purchasing an additional 43 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Trading Down 0.2 %

EME traded down $0.97 during trading on Friday, reaching $479.28. The stock had a trading volume of 266,118 shares, compared to its average volume of 431,388. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 24.34 and a beta of 1.09. The stock's 50 day moving average is $478.94 and its two-hundred day moving average is $414.88. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38.

EMCOR Group (NYSE:EME - Get Free Report) last released its 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 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 in the prior year, the firm earned $3.61 EPS. The company's revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders 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 dividend yield of 0.21%. EMCOR Group's dividend payout ratio is currently 5.08%.

Analysts Set New Price Targets

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

About EMCOR Group

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.