53,175 Shares of EMCOR Group, Inc. $EME Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group opened a new EMCOR position, purchasing 53,175 shares worth about $40.1 million, or roughly 0.12% of the company. Institutional investors collectively own 92.59% of EMCOR shares.
• EMCOR beat quarterly forecasts, reporting EPS of $9.60 versus $8.37 expected and revenue of $5.54 billion versus $5.19 billion; revenue rose 28.8% year over year.
• The board authorized a $500 million share buyback, while analysts’ consensus rating was “Moderate Buy” with a $902.88 price target. The company also pays a $0.40 quarterly dividend.

Jefferies Financial Group Inc. bought a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 53,175 shares of the construction company's stock, valued at approximately $40,120,000. Jefferies Financial Group Inc. owned approximately 0.12% of EMCOR Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in EMCOR Group by 13.3% in the second quarter. NewEdge Advisors LLC now owns 17,873 shares of the construction company's stock valued at $14,833,000 after buying an additional 2,099 shares during the last quarter. Nykredit A S acquired a new stake in shares of EMCOR Group in the second quarter valued at approximately $18,443,000. Summit Global Investments acquired a new stake in shares of EMCOR Group in the second quarter valued at approximately $3,791,000. Sapient Capital LLC purchased a new position in shares of EMCOR Group during the second quarter worth approximately $5,962,000. Finally, Value Aligned Research Advisors LLC grew its position in shares of EMCOR Group by 56.6% during the second quarter. Value Aligned Research Advisors LLC now owns 349,960 shares of the construction company's stock worth $290,425,000 after acquiring an additional 126,439 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 3.3%

Shares of EME stock opened at $666.66 on Thursday. The stock's 50-day moving average price is $725.87 and its 200 day moving average price is $777.99. The stock has a market capitalization of $29.19 billion, a PE ratio of 19.26 and a beta of 1.16. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, topping analysts' consensus estimates of $8.37 by $1.23. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The company had revenue of $5.54 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the firm earned $6.57 EPS. The firm's revenue for the quarter was up 28.8% on a year-over-year basis. Analysts expect that EMCOR Group, Inc. will post 34.79 earnings per share for the current fiscal year.

EMCOR Group announced that its board has approved a stock buyback program on Thursday, October 29th that authorizes the company to repurchase $500 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 1.7% of its shares through open market purchases. Stock buyback programs are usually a sign that the company's management believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group's payout ratio is presently 4.62%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EME shares. Zacks Research cut shares of EMCOR Group from a "strong-buy" rating to a "hold" rating in a report on Monday, October 19th. UBS Group decreased their price target on shares of EMCOR Group from $1,065.00 to $925.00 and set a "buy" rating for the company in a research note on Wednesday, November 4th. The Goldman Sachs Group decreased their price target on shares of EMCOR Group from $885.00 to $795.00 and set a "neutral" rating for the company in a research note on Tuesday, October 20th. DA Davidson set a $1,047.00 price objective on shares of EMCOR Group in a research report on Monday, August 10th. Finally, Cantor Fitzgerald dropped their price objective on shares of EMCOR Group from $1,047.00 to $920.00 and set an "overweight" rating on the stock in a research note on Monday, November 2nd. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, EMCOR Group currently has an average rating of "Moderate Buy" and a consensus price target of $902.88.

About EMCOR Group

EMCOR Group is a provider of mechanical and electrical construction and facilities services. Through its operating companies, it designs, installs, maintains and upgrades building systems and related infrastructure for commercial, industrial, institutional and government customers. Its services include heating, ventilation and air conditioning; electrical and power systems; plumbing and piping; building automation; energy infrastructure; and ongoing facilities management. The company also provides industrial services, such as maintenance and support for process and manufacturing facilities.

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