19,399 Shares in EMCOR Group, Inc. (NYSE:EME) Purchased by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,399 shares of the construction company's stock, valued at approximately $8,352,000. EMCOR Group makes up approximately 1.8% of MinichMacGregor Wealth Management LLC's investment portfolio, making the stock its 28th largest position.

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

Wall Street Analysts Forecast Growth

EME has been the subject of several research analyst reports. DA Davidson boosted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock 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 Stock Up 3.1 %

NYSE EME traded up $14.51 during midday trading on Tuesday, hitting $476.01. The company had a trading volume of 357,427 shares, compared to its average volume of 429,977. The firm has a fifty day simple moving average of $422.24 and a two-hundred day simple moving average of $389.03. EMCOR Group, Inc. has a fifty-two week low of $206.37 and a fifty-two week high of $476.50. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of 24.18 and a beta of 1.07.

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. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $3.61 earnings per share. As a group, equities analysts predict that EMCOR Group, Inc. will post 20.75 earnings per share for the current year.

EMCOR Group Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.21%. EMCOR Group's dividend payout ratio (DPR) is currently 5.08%.

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.