EMCOR Group, Inc. $EME Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 14,039 shares of the construction company’s stock, valued at approximately $10,592,000.

Other large investors have also bought and sold shares of the company. NewEdge Advisors LLC boosted its position in EMCOR Group by 13.3% during the 2nd quarter. NewEdge Advisors LLC now owns 17,873 shares of the construction company’s stock valued at $14,833,000 after buying an additional 2,099 shares during the period. Nykredit A S bought a new stake in EMCOR Group in the 2nd quarter worth $18,443,000. Summit Global Investments purchased a new position in shares of EMCOR Group in the second quarter valued at about $3,791,000. Sapient Capital LLC purchased a new position in shares of EMCOR Group in the second quarter valued at about $5,962,000. Finally, Value Aligned Research Advisors LLC increased its position in shares of EMCOR Group by 56.6% in the second quarter. Value Aligned Research Advisors LLC now owns 349,960 shares of the construction company’s stock valued at $290,425,000 after acquiring an additional 126,439 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EME. Oppenheimer dropped their target price on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Monday. DA Davidson set a $1,047.00 price target on EMCOR Group in a research report on Monday, August 10th. The Goldman Sachs Group dropped their price objective on EMCOR Group from $885.00 to $795.00 and set a “neutral” rating for the company in a report on Tuesday, October 20th. Robert W. Baird lifted their price objective on EMCOR Group from $900.00 to $918.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $931.86.

EMCOR Group Price Performance

Shares of NYSE EME opened at $638.07 on Thursday. EMCOR Group, Inc. has a 1 year low of $564.92 and a 1 year high of $951.96. The stock has a market capitalization of $27.93 billion, a P/E ratio of 21.64 and a beta of 1.16. The company’s 50-day moving average is $737.59 and its 200 day moving average is $779.62.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, beating the consensus estimate of $8.37 by $1.23. The company had revenue of $5.54 billion for the quarter, compared to analyst estimates of $5.19 billion. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The firm’s revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.57 earnings per share. Research analysts anticipate that EMCOR Group, Inc. will post 34.79 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, October 15th. EMCOR Group’s payout ratio is 4.62%.

EMCOR Group announced that its board has approved a stock repurchase program on Thursday, October 29th that allows the company to buy back $500 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 1.7% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

EMCOR Group Profile

EMCOR Group, Inc provides construction, engineering, and building services through a network of specialty contracting businesses. Its core activities include electrical and mechanical construction, energy infrastructure, building systems, facilities services, and industrial maintenance. The company serves commercial, institutional, industrial, manufacturing, healthcare, education, government, and infrastructure customers.

Its services cover the design, installation, operation, maintenance, and upgrading of electrical, heating, ventilation, air-conditioning, plumbing, fire protection, and building automation systems.