Lord Abbett & CO. LLC Has $237.13 Million Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Lord Abbett & CO. LLC decreased its position in EMCOR Group, Inc. (NYSE:EME) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 550,787 shares of the construction company’s stock after selling 50,306 shares during the period. EMCOR Group accounts for 0.7% of Lord Abbett & CO. LLC’s portfolio, making the stock its 25th largest position. Lord Abbett & CO. LLC’s holdings in EMCOR Group were worth $237,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EME. Sequoia Financial Advisors LLC boosted its stake in shares of EMCOR Group by 8.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 643 shares of the construction company’s stock valued at $235,000 after purchasing an additional 50 shares during the last quarter. ORG Partners LLC bought a new position in EMCOR Group during the second quarter worth about $31,000. Swedbank AB acquired a new position in shares of EMCOR Group during the 2nd quarter worth about $8,785,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of EMCOR Group by 971.8% in 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 acquiring an additional 91,837 shares during the last quarter. Finally, Leeward Investments LLC MA boosted its stake in EMCOR Group by 5.7% during the 2nd quarter. Leeward Investments LLC MA now owns 64,741 shares of the construction company’s stock worth $23,636,000 after acquiring an additional 3,464 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Price Performance

EME stock opened at $479.05 on Friday. The company has a fifty day moving average price of $478.06 and a two-hundred day moving average price of $414.17. The stock has a market cap of $22.04 billion, a price-to-earnings ratio of 24.33 and a beta of 1.09. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38.

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

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is currently 5.08%.

Analysts Set New Price Targets

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

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.