Machina Capital S.A.S. Acquires 2,220 Shares of EMCOR Group, Inc. $EME

Machina Capital S.A.S. grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 116.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,128 shares of the construction company’s stock after buying an additional 2,220 shares during the period. Machina Capital S.A.S.’s holdings in EMCOR Group were worth $3,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBH Bank bought a new stake in EMCOR Group in the second quarter valued at $27,000. Mascoma Wealth Management LLC purchased a new stake in shares of EMCOR Group in the 3rd quarter worth about $26,000. Ascentis Independent Advisors purchased a new stake in shares of EMCOR Group in the 1st quarter worth about $27,000. GK Wealth Management LLC purchased a new stake in shares of EMCOR Group in the 3rd quarter worth about $31,000. Finally, Clearstead Trust LLC bought a new stake in shares of EMCOR Group during the 2nd quarter valued at about $38,000. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. The Goldman Sachs Group decreased their price target 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. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Cantor Fitzgerald lowered their price objective on shares of EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating for the company in a report on Monday, November 2nd. Finally, Oppenheimer cut their price objective on EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $902.88.

EMCOR Group Stock Up 3.3%

Shares of EME stock opened at $666.66 on Thursday. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 19.26 and a beta of 1.16. The business’s fifty day moving average is $725.87 and its 200 day moving average is $777.99. EMCOR Group, Inc. has a twelve month low of $564.92 and a twelve month high of $951.96.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.37 by $1.23. The business 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%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.57 earnings per share. 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 of Directors has initiated a share repurchase plan on Thursday, October 29th that allows the company to repurchase $500 million in shares. This buyback authorization allows the construction company to reacquire up to 1.7% of its stock through open market purchases. Share buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

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

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.