State Street Corp Grows Stake in EMCOR Group, Inc. (NYSE:EME)

State Street Corp increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,612,782 shares of the construction company's stock after purchasing an additional 24,541 shares during the quarter. State Street Corp owned 3.51% of EMCOR Group worth $694,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cumberland Partners Ltd lifted its holdings in shares of EMCOR Group by 60.0% during the third quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company's stock valued at $1,722,000 after purchasing an additional 1,500 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in EMCOR Group by 173.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company's stock valued at $23,473,000 after acquiring an additional 34,553 shares during the last quarter. Independent Advisor Alliance increased its position in EMCOR Group by 25.0% during the third quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company's stock valued at $2,261,000 after acquiring an additional 1,049 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in EMCOR Group by 46.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,066 shares of the construction company's stock valued at $28,874,000 after acquiring an additional 21,385 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new stake in EMCOR Group during the third quarter valued at $8,352,000. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Down 6.0 %

EME traded down $30.44 during midday trading on Monday, reaching $478.59. The company had a trading volume of 556,640 shares, compared to its average volume of 433,696. The business has a 50-day moving average of $474.16 and a two-hundred day moving average of $412.08. The company has a market cap of $22.02 billion, a P/E ratio of 25.85 and a beta of 1.09. EMCOR Group, Inc. has a 1 year low of $209.31 and a 1 year high of $532.38.

EMCOR Group (NYSE:EME - Get Free Report) last issued 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. The business had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.61 earnings per share. On average, equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Tuesday, October 15th. EMCOR Group's dividend payout ratio is currently 5.08%.

Analysts Set New Price Targets

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