EMCOR Group, Inc. (NYSE:EME) Shares Bought by Summit Global Investments

Summit Global Investments lifted its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 58.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,821 shares of the construction company's stock after acquiring an additional 3,991 shares during the period. Summit Global Investments' holdings in EMCOR Group were worth $4,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. boosted its position in EMCOR Group by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company's stock worth $242,122,000 after purchasing an additional 11,479 shares in the last quarter. Acadian Asset Management LLC grew its position in EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company's stock valued at $192,028,000 after buying an additional 134,575 shares during the period. AQR Capital Management LLC increased its holdings in EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company's stock valued at $150,553,000 after buying an additional 88,909 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of EMCOR Group by 4.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company's stock worth $152,427,000 after acquiring an additional 14,447 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company's stock worth $85,246,000 after purchasing an additional 116,300 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Stock Performance

Shares of NYSE:EME traded up $11.74 during trading on Friday, reaching $516.09. The stock had a trading volume of 398,376 shares, compared to its average volume of 432,381. EMCOR Group, Inc. has a 1-year low of $207.36 and a 1-year high of $519.10. The stock has a market cap of $23.74 billion, a PE ratio of 26.07 and a beta of 1.07. The business has a fifty day moving average price of $427.08 and a 200-day moving average price of $390.62.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating 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 net margin of 6.51% and a return on equity of 34.99%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.61 earnings per share. Sell-side analysts expect that EMCOR Group, Inc. will post 20.75 earnings per share for the current year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. EMCOR Group's dividend payout ratio is presently 5.08%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EME. StockNews.com upgraded EMCOR Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 9th. DA Davidson upped their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a "buy" rating in a research report on Friday, July 26th.

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.