Merit Financial Group LLC Buys New Stake in EMCOR Group, Inc. (NYSE:EME)

Merit Financial Group LLC purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,139 shares of the construction company's stock, valued at approximately $971,000.

Other hedge funds have also bought and sold shares of the company. Caprock Group LLC boosted its holdings in EMCOR Group by 0.4% in the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company's stock worth $2,513,000 after buying an additional 22 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of EMCOR Group by 13.0% in the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company's stock worth $101,000 after acquiring an additional 27 shares during the period. Cassaday & Co Wealth Management LLC grew its position 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 in the last quarter. Fortem Financial Group LLC grew its position in shares of EMCOR Group by 0.5% during the fourth quarter. Fortem Financial Group LLC now owns 6,978 shares of the construction company's stock worth $3,167,000 after purchasing an additional 32 shares in the last quarter. Finally, Mount Lucas Management LP raised its stake in EMCOR Group by 2.5% during the 3rd quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company's stock valued at $598,000 after purchasing an additional 34 shares during the period. Institutional investors own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EME shares. 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. The Goldman Sachs Group started coverage on EMCOR Group in a report on Friday, November 22nd. They set a "sell" rating and a $445.00 price target for the company. Northcoast Research started coverage on EMCOR Group in a report on Friday, November 22nd. They set a "buy" rating and a $600.00 price objective on the stock. Finally, StockNews.com raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $518.75.

EMCOR Group Price Performance

Shares of EME traded up $8.54 during midday trading on Wednesday, hitting $535.70. The stock had a trading volume of 383,142 shares, compared to its average volume of 382,163. EMCOR Group, Inc. has a 1 year low of $219.07 and a 1 year high of $545.30. The stock's 50 day moving average is $488.15 and its 200 day moving average is $433.93. The firm has a market cap of $24.64 billion, a PE ratio of 27.21 and a beta of 1.12.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly 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 firm had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same period in the prior year, the business posted $3.61 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. EMCOR Group's payout ratio is presently 5.08%.

EMCOR Group 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.