Weiss Asset Management LP Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Weiss Asset Management LP bought a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,710 shares of the construction company's stock, valued at approximately $20,541,000. Weiss Asset Management LP owned approximately 0.10% of EMCOR Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Temasek Holdings Private Ltd bought a new stake in shares of EMCOR Group during the 3rd quarter valued at $3,229,000. State Street Corp raised its holdings in EMCOR Group by 1.5% during the third quarter. State Street Corp now owns 1,612,782 shares of the construction company's stock valued at $694,351,000 after acquiring an additional 24,541 shares during the period. Stifel Financial Corp lifted its position in shares of EMCOR Group by 0.9% in the third quarter. Stifel Financial Corp now owns 77,810 shares of the construction company's stock valued at $33,500,000 after acquiring an additional 680 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of EMCOR Group by 5.7% in the third quarter. Systematic Financial Management LP now owns 167,716 shares of the construction company's stock worth $72,207,000 after acquiring an additional 9,100 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in EMCOR Group by 2.7% in the 3rd quarter. Quantinno Capital Management LP now owns 9,884 shares of the construction company's stock worth $4,256,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Performance

Shares of NYSE:EME traded down $6.96 on Friday, reaching $506.56. The company's stock had a trading volume of 173,869 shares, compared to its average volume of 432,507. The company has a 50-day simple moving average of $472.52 and a 200 day simple moving average of $410.88. EMCOR Group, Inc. has a 52-week low of $209.31 and a 52-week high of $532.38. The company has a market cap of $23.30 billion, a P/E ratio of 26.08 and a beta of 1.09.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates 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 was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $3.61 earnings per share. On average, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal 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 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 yield of 0.20%. EMCOR Group's dividend payout ratio is presently 5.08%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EME shares. 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. Stifel Nicolaus began coverage on shares of EMCOR Group in a research note on Friday, November 15th. They issued a "buy" rating and a $600.00 price target on the stock. StockNews.com raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group began coverage on EMCOR Group in a report on Friday, November 22nd. They issued a "sell" rating and a $445.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EMCOR Group currently has a consensus rating of "Moderate Buy" and an average price target of $518.75.

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.