Algert Global LLC Has $4.99 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Algert Global LLC boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 848.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,585 shares of the construction company’s stock after purchasing an additional 10,363 shares during the quarter. Algert Global LLC’s holdings in EMCOR Group were worth $4,988,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EME. Matrix Trust Co bought a new stake in shares of EMCOR Group in the second quarter valued at about $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $27,000. Innealta Capital LLC acquired a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $29,000. ORG Partners LLC acquired a new position in shares of EMCOR Group in the second quarter valued at $31,000. Finally, ORG Wealth Partners LLC acquired a new stake in EMCOR Group during the third quarter worth $33,000. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EME has been the topic of a number of analyst reports. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Northcoast Research assumed coverage on EMCOR Group in a report on Friday. They issued a “buy” rating and a $600.00 target price for the company. The Goldman Sachs Group began coverage on EMCOR Group in a research note on Friday. They issued a “sell” rating and a $445.00 price target on the stock. Finally, Stifel Nicolaus started coverage on EMCOR Group in a research note on Friday, November 15th. They set 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Price Performance

Shares of EME opened at $504.92 on Monday. The company has a market capitalization of $23.23 billion, a P/E ratio of 25.64 and a beta of 1.07. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38. The business’s 50 day simple moving average is $457.00 and its 200-day simple moving average is $402.81.

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

EMCOR Group Dividend Announcement

The business also recently disclosed 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 annualized dividend 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%.

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.