EMCOR Group, Inc. $EME Stock Acquired by Gen Wealth Partners Inc

Gen Wealth Partners Inc lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 182.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,344 shares of the construction company’s stock after buying an additional 869 shares during the period. Gen Wealth Partners Inc’s holdings in EMCOR Group were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC grew its position in EMCOR Group by 2.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 725 shares of the construction company’s stock worth $547,000 after acquiring an additional 18 shares during the period. Empirical Finance LLC lifted its stake in shares of EMCOR Group by 0.8% in the 1st quarter. Empirical Finance LLC now owns 2,260 shares of the construction company’s stock valued at $1,669,000 after purchasing an additional 19 shares during the last quarter. CX Institutional lifted its stake in shares of EMCOR Group by 7.1% in the 2nd quarter. CX Institutional now owns 286 shares of the construction company’s stock valued at $237,000 after purchasing an additional 19 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management lifted its stake in shares of EMCOR Group by 0.5% in the 2nd quarter. B & T Capital Management DBA Alpha Capital Management now owns 4,339 shares of the construction company’s stock valued at $3,601,000 after purchasing an additional 20 shares during the last quarter. Finally, DUTCH ASSET Corp grew its holdings in shares of EMCOR Group by 8.3% during the 3rd quarter. DUTCH ASSET Corp now owns 274 shares of the construction company’s stock worth $207,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Down 1.3%

Shares of NYSE EME opened at $644.38 on Wednesday. The business’s 50 day moving average is $727.24 and its two-hundred day moving average is $778.13. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96. The firm has a market cap of $28.21 billion, a price-to-earnings ratio of 18.61 and a beta of 1.16.

EMCOR Group (NYSE:EME) last released its 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 during the quarter, compared to the consensus estimate of $5.19 billion. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. EMCOR Group’s revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.57 EPS. Analysts anticipate that EMCOR Group, Inc. will post 34.79 EPS for the current fiscal year.

EMCOR Group announced that its Board of Directors has authorized a stock buyback program on Thursday, October 29th that authorizes the company to buy back $500 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is 4.62%.

Wall Street Analyst Weigh In

EME has been the subject of a number of recent analyst reports. Cantor Fitzgerald cut their price objective on EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating for the company in a research report on Monday, November 2nd. Weiss Ratings cut shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. The Goldman Sachs Group lowered their target price on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. Oppenheimer dropped their price target on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. Finally, Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $902.88.

EMCOR Group Profile

EMCOR Group is a provider of mechanical and electrical construction and facilities services. Through its operating companies, it designs, installs, maintains and upgrades building systems and related infrastructure for commercial, industrial, institutional and government customers. Its services include heating, ventilation and air conditioning; electrical and power systems; plumbing and piping; building automation; energy infrastructure; and ongoing facilities management. The company also provides industrial services, such as maintenance and support for process and manufacturing facilities.