Mirae Asset Global Investments Co. Ltd. Raises Stock Position in EMCOR Group, Inc. $EME

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 69.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,712 shares of the construction company’s stock after buying an additional 3,567 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EMCOR Group were worth $5,659,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Donoghue Forlines LLC purchased a new stake in shares of EMCOR Group during the third quarter worth about $2,221,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of EMCOR Group in the 2nd quarter worth $995,000. Exchange Traded Concepts LLC purchased a new position in EMCOR Group in the third quarter worth about $528,000. Pinnbrook Capital Management LP bought a new position in shares of EMCOR Group during the 2nd quarter valued at approximately $1,510,000. Finally, Nordea Investment Management AB increased its position in EMCOR Group by 63.8% during the second quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock valued at $210,278,000 after acquiring an additional 153,948 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 1.2%

NYSE EME opened at $721.29 on Monday. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 29.00 and a beta of 1.17. The stock has a 50-day moving average of $645.50 and a 200 day moving average of $641.30. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $778.64.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $6.57. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.27 billion. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.80 EPS. Equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is presently 6.43%.

EMCOR Group declared that its board has authorized a stock repurchase plan on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on EME shares. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and upped their target price for the stock from $495.00 to $676.00 in a report on Tuesday, October 7th. DA Davidson increased their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

About EMCOR Group

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.