AlphaQuest LLC Boosts Position in EMCOR Group, Inc. $EME

AlphaQuest LLC increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 108.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,813 shares of the construction company’s stock after acquiring an additional 2,505 shares during the quarter. AlphaQuest LLC’s holdings in EMCOR Group were worth $3,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC purchased a new stake in shares of EMCOR Group in the 3rd quarter valued at approximately $29,000. Orion Capital Management LLC acquired a new position in EMCOR Group in the third quarter valued at approximately $31,000. Tobam lifted its holdings in EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after acquiring an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in EMCOR Group in the second quarter worth approximately $43,000. Finally, Hazlett Burt & Watson Inc. increased its stake in EMCOR Group by 37.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock worth $59,000 after acquiring an additional 30 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

EME opened at $729.76 on Friday. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $778.64. The company has a market cap of $32.67 billion, a P/E ratio of 29.34 and a beta of 1.17. The business’s 50-day simple moving average is $642.70 and its 200-day simple moving average is $638.93.

EMCOR Group (NYSE:EME) last announced 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. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the company posted $5.80 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

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

EMCOR Group announced that its board has authorized a stock buyback plan on Thursday, December 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EME shares. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. The Goldman Sachs Group upgraded shares of EMCOR Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $495.00 to $676.00 in a research report on Tuesday, October 7th. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research note on Friday, October 31st. Finally, DA Davidson increased their price objective on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and an average price target of $698.83.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $677.22, for a total value of $897,316.50. Following the completion of the sale, the director directly owned 6,140 shares of the company’s stock, valued at approximately $4,158,130.80. The trade was a 17.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.83% of the company’s stock.

EMCOR Group Profile

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.