Central Pacific Bank Trust Division Increases Stock Position in EMCOR Group, Inc. (NYSE:EME)

Central Pacific Bank Trust Division increased its position in EMCOR Group, Inc. (NYSE:EME) by 382.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,833 shares of the construction company’s stock after buying an additional 1,453 shares during the period. Central Pacific Bank Trust Division’s holdings in EMCOR Group were worth $832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC purchased a new position in shares of EMCOR Group in the 3rd quarter worth about $100,282,000. Acadian Asset Management LLC increased its position in EMCOR Group by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares in the last quarter. Renaissance Technologies LLC raised its holdings in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after buying an additional 116,300 shares during the period. AQR Capital Management LLC lifted its position in EMCOR Group by 27.5% during the second 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 in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in EMCOR Group by 45.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after buying an additional 88,074 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

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

EMCOR Group Stock Performance

NYSE:EME opened at $473.65 on Friday. EMCOR Group, Inc. has a one year low of $210.38 and a one year high of $532.38. The business’s 50-day simple moving average is $484.39 and its 200 day simple moving average is $423.34. The stock has a market cap of $21.79 billion, a price-to-earnings ratio of 24.06 and a beta of 1.12.

EMCOR Group (NYSE:EME) last released its earnings results 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 return on equity of 34.99% and a net margin of 6.51%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.61 EPS. On average, equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. EMCOR Group’s payout ratio is currently 5.08%.

EMCOR Group Company 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.