Everence Capital Management Inc. Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Everence Capital Management Inc. acquired a new stake in EMCOR Group, Inc. (NYSE:EME) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 970 shares of the construction company’s stock, valued at approximately $440,000.

A number of other institutional investors also recently modified their holdings of EME. Caprock Group LLC increased its stake in EMCOR Group by 0.4% in the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after purchasing an additional 22 shares in the last quarter. First Horizon Advisors Inc. increased its position in EMCOR Group by 13.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after buying an additional 27 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its stake in EMCOR Group by 3.8% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock worth $357,000 after buying an additional 30 shares during the period. Mount Lucas Management LP boosted its holdings in EMCOR Group by 2.5% in the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock worth $598,000 after acquiring an additional 34 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in EMCOR Group by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EME. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Northcoast Research initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target on the stock. Finally, Stifel Nicolaus initiated coverage on EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Price Performance

Shares of EME stock opened at $473.65 on Monday. EMCOR Group, Inc. has a one year low of $210.38 and a one year high of $532.38. The firm has a 50-day moving average of $484.39 and a 200-day moving average of $423.60. The company has a market cap of $21.79 billion, a P/E ratio of 24.06 and a beta of 1.12.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. EMCOR Group’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $3.61 earnings per share. As a group, research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.