EMCOR Group, Inc. $EME Stock Purchased 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 3rd quarter, Holdings Channel.com reports. The firm owned 1,344 shares of the construction company’s stock after purchasing 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 SEC filing.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC lifted its stake in EMCOR Group by 116.5% during the third quarter. Kestra Investment Management LLC now owns 2,479 shares of the construction company’s stock worth $1,871,000 after purchasing an additional 1,334 shares during the last quarter. AlphaCore Capital LLC raised its holdings in EMCOR Group by 26.4% during the third quarter. AlphaCore Capital LLC now owns 1,021 shares of the construction company’s stock worth $770,000 after purchasing an additional 213 shares in the last quarter. Running Oak Capital LLC raised its holdings in EMCOR Group by 3.5% during the third quarter. Running Oak Capital LLC now owns 13,320 shares of the construction company’s stock worth $10,050,000 after purchasing an additional 453 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in EMCOR Group during the third quarter worth approximately $57,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of EMCOR Group by 15.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 208,793 shares of the construction company’s stock worth $160,568,000 after buying an additional 27,869 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Down 1.3%

NYSE EME opened at $644.38 on Wednesday. The stock has a market capitalization of $28.21 billion, a P/E ratio of 18.61 and a beta of 1.16. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96. The firm has a 50-day moving average price of $727.24 and a 200 day moving average price of $778.13.

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

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

EMCOR Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on EME. Oppenheimer decreased their price objective on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Monday, November 2nd. The Goldman Sachs Group cut their target price on EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 20th. JPMorgan Chase & Co. began coverage on EMCOR Group in a report on Tuesday. They issued a “neutral” rating and a $700.00 target price for the company. DA Davidson set a $1,047.00 target price on EMCOR Group in a research report on Monday, August 10th. Finally, Zacks Research cut 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $902.88.

EMCOR Group Company 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.