Daiwa Securities Group Inc. Purchases 5,070 Shares of EMCOR Group, Inc. (NYSE:EME)

Daiwa Securities Group Inc. increased its holdings in EMCOR Group, Inc. (NYSE:EME) by 24.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 26,040 shares of the construction company’s stock after buying an additional 5,070 shares during the period. Daiwa Securities Group Inc.’s holdings in EMCOR Group were worth $11,211,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Acadian Asset Management LLC grew its position in EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after acquiring an additional 134,575 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in shares of EMCOR Group by 155.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after purchasing an additional 126,148 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of EMCOR Group by 971.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after purchasing an additional 91,837 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after buying an additional 88,909 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

EME stock opened at $504.92 on Monday. EMCOR Group, Inc. has a 12 month low of $209.31 and a 12 month high of $532.38. The firm’s 50-day moving average is $457.00 and its 200 day moving average is $402.81. The company has a market capitalization of $23.23 billion, a PE ratio of 25.64 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its 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. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm earned $3.61 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Analyst Upgrades and Downgrades

EME has been the subject of several recent analyst reports. Northcoast Research initiated coverage on shares of EMCOR Group in a research note on Friday. They set a “buy” rating and a $600.00 price objective for the company. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday. They issued a “sell” rating and a $445.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on EMCOR Group in a research note on Friday, November 15th. They set a “buy” rating and a $600.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $518.75.

EMCOR Group Profile

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.