Lord Abbett & CO. LLC Has $149.63 Million Stake in EMCOR Group, Inc. $EME

Key Points

• Lord Abbett & CO. LLC reduced its stake in EMCOR Group by 20.8%, selling 106,558 shares, and now holds $149.63 million worth of the stock.
• EMCOR Group reported a quarterly earnings of $6.72 per share, exceeding estimates, with a revenue of $4.30 billion, up 17.4% from the previous year.
• The company recently declared a $0.25 quarterly dividend, reflecting a 0.2% yield and a 4.15% payout ratio.

Lord Abbett & CO. LLC trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 20.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 404,803 shares of the construction company's stock after selling 106,558 shares during the period. Lord Abbett & CO. LLC owned 0.90% of EMCOR Group worth $149,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. BankPlus Trust Department lifted its holdings in EMCOR Group by 200.0% in the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock worth $27,000 after buying an additional 48 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in EMCOR Group in the 1st quarter worth $28,000. Hazlett Burt & Watson Inc. acquired a new position in EMCOR Group in the 1st quarter worth $30,000. Continuum Advisory LLC lifted its holdings in EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after buying an additional 29 shares in the last quarter. Finally, Dogwood Wealth Management LLC acquired a new stake in shares of EMCOR Group in the 4th quarter valued at about $40,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EME has been the topic of a number of recent analyst reports. Robert W. Baird initiated coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating and a $560.00 target price on the stock. The Goldman Sachs Group increased their price objective on shares of EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a research note on Tuesday, July 8th. Jefferies Financial Group started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating on the stock. TD Securities started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating on the stock. Finally, Baird R W upgraded shares of EMCOR Group to a "strong-buy" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $594.50.

EMCOR Group Stock Performance

Shares of NYSE EME traded up $7.11 during trading hours on Monday, hitting $612.73. 261,887 shares of the company's stock were exchanged, compared to its average volume of 484,538. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $667.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.15. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 25.42 and a beta of 1.27. The company's 50-day moving average price is $556.32 and its 200-day moving average price is $465.59.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.68 by $1.04. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.10 billion. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The business's quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $5.25 EPS. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, July 15th. EMCOR Group's payout ratio is 4.15%.

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.