Koshinski Asset Management Inc. Acquires Shares of 1,650 EMCOR Group, Inc. (NYSE:EME)

Posted by Defense World Staff on Apr 6th, 2023

Koshinski Asset Management Inc. acquired a new stake in EMCOR Group, Inc. (NYSE:EME – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,650 shares of the construction company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EME. Congress Asset Management Co. MA grew its position in shares of EMCOR Group by 1,083.3% during the 4th quarter. Congress Asset Management Co. MA now owns 719,846 shares of the construction company’s stock worth $106,616,000 after buying an additional 659,012 shares in the last quarter. Raymond James & Associates grew its position in shares of EMCOR Group by 264.2% during the 3rd quarter. Raymond James & Associates now owns 205,749 shares of the construction company’s stock worth $23,760,000 after buying an additional 149,250 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of EMCOR Group by 232.8% during the 1st quarter. Allianz Asset Management GmbH now owns 166,815 shares of the construction company’s stock worth $18,789,000 after buying an additional 116,692 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of EMCOR Group during the 3rd quarter worth $13,224,000. Finally, AQR Capital Management LLC grew its position in shares of EMCOR Group by 26.8% during the 2nd quarter. AQR Capital Management LLC now owns 511,829 shares of the construction company’s stock worth $51,510,000 after buying an additional 108,045 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

EMCOR Group Price Performance

Shares of EME stock opened at $154.24 on Thursday. EMCOR Group, Inc. has a 1-year low of $95.64 and a 1-year high of $169.88. The stock’s 50-day moving average is $156.23 and its 200 day moving average is $145.99. The company has a market cap of $7.36 billion, a P/E ratio of 18.88 and a beta of 1.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.26 and a quick ratio of 1.23.

EMCOR Group (NYSE:EME – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The construction company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. EMCOR Group had a return on equity of 20.55% and a net margin of 3.67%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts predict that EMCOR Group, Inc. will post 9.13 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, January 13th. EMCOR Group’s dividend payout ratio (DPR) is presently 7.34%.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, EVP Maxine Lum Mauricio sold 2,500 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $149.62, for a total value of $374,050.00. Following the completion of the sale, the executive vice president now directly owns 26,478 shares in the company, valued at $3,961,638.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on EME. StockNews.com began coverage on EMCOR Group in a research report on Thursday, March 16th. They set a “strong-buy” rating on the stock. DA Davidson increased their price target on EMCOR Group from $165.00 to $188.00 and gave the stock a “buy” rating in a research report on Friday, February 24th.

EMCOR Group Profile

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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.