Envestnet Asset Management Inc. Buys 5,312 Shares of EMCOR Group, Inc. (NYSE:EME)

Posted by Defense World Staff on Feb 26th, 2023

Envestnet Asset Management Inc. raised its stake in shares of EMCOR Group, Inc. (NYSE:EME – Get Rating) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,151 shares of the construction company’s stock after buying an additional 5,312 shares during the period. Envestnet Asset Management Inc. owned 0.22% of EMCOR Group worth $12,374,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in EMCOR Group by 5.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,426 shares of the construction company’s stock valued at $273,000 after purchasing an additional 135 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of EMCOR Group by 3.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,156 shares of the construction company’s stock worth $580,000 after acquiring an additional 189 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of EMCOR Group by 3.4% in the 1st quarter. Bank of Montreal Can now owns 8,037 shares of the construction company’s stock worth $928,000 after acquiring an additional 264 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of EMCOR Group by 160.4% in the 1st quarter. Acadian Asset Management LLC now owns 4,828 shares of the construction company’s stock worth $543,000 after acquiring an additional 2,974 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of EMCOR Group by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,561 shares of the construction company’s stock worth $2,203,000 after acquiring an additional 1,865 shares in the last quarter. 93.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on EME. DA Davidson boosted their target price on EMCOR Group from $165.00 to $188.00 and gave the stock a “buy” rating in a report on Friday. KeyCorp boosted their target price on EMCOR Group from $135.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, November 4th.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, EVP Maxine Lum Mauricio sold 2,500 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $149.62, for a total transaction of $374,050.00. Following the completion of the sale, the executive vice president now owns 26,478 shares in the company, valued at approximately $3,961,638.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

EMCOR Group Stock Performance

EME stock opened at $165.52 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.26 and a quick ratio of 1.24. The company has a 50 day moving average price of $148.41 and a 200 day moving average price of $137.62. EMCOR Group, Inc. has a fifty-two week low of $95.64 and a fifty-two week high of $169.88. The stock has a market capitalization of $7.89 billion, a PE ratio of 20.26 and a beta of 1.13.

EMCOR Group (NYSE:EME – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The construction company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.35. EMCOR Group had a net margin of 3.67% and a return on equity of 20.55%. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the company posted $1.89 EPS. EMCOR Group’s revenue was up 11.7% on a year-over-year basis. Analysts forecast that EMCOR Group, Inc. will post 9.04 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, January 13th. EMCOR Group’s payout ratio is 7.34%.

EMCOR Group Profile

(Get Rating)

EMCOR Group, Inc engages in the provision of electrical and mechanical construction, and facilities services. It operates through the following segments: United States Electrical Construction and Facilities Services, United States Mechanical Construction and Facilities Services, United States Building Services, United States Industrial Services, and United Kingdom Building Services.