Cigna Investments Inc. New Buys Shares of 497 EMCOR Group, Inc. (NYSE:EME)

Cigna Investments Inc. New purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 497 shares of the construction company’s stock, valued at approximately $214,000.

A number of other hedge funds also recently modified their holdings of the stock. Matrix Trust Co purchased a new stake in EMCOR Group in the second quarter worth $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group in the 2nd quarter worth about $27,000. Innealta Capital LLC bought a new stake in EMCOR Group in the 2nd quarter valued at about $29,000. ORG Partners LLC purchased a new stake in EMCOR Group during the second quarter valued at about $31,000. Finally, ORG Wealth Partners LLC bought a new position in EMCOR Group during the third quarter worth about $33,000. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on EME shares. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson increased their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Stock Up 1.6 %

EME stock opened at $453.21 on Friday. EMCOR Group, Inc. has a twelve month low of $206.37 and a twelve month high of $461.87. The firm has a market capitalization of $21.15 billion, a PE ratio of 25.96 and a beta of 1.07. The stock has a 50-day simple moving average of $418.65 and a two-hundred day simple moving average of $386.77.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. EMCOR Group’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.61 earnings per share. On average, equities research analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. EMCOR Group’s payout ratio is currently 5.73%.

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.