Mitsubishi UFJ Asset Management Co. Ltd. Buys 2,658 Shares of EMCOR Group, Inc. (NYSE:EME)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in EMCOR Group by 7.9%, now holding 36,438 shares valued at approximately $13.47 million.
• Wall Street analysts have reacted positively towards EMCOR Group, with DA Davidson upgrading their price target to $725 and a consensus rating of "Moderate Buy."
• EMCOR Group reported earnings of $6.72 per share, surpassing analyst expectations, along with a revenue of $4.30 billion, reflecting a year-over-year growth of 17.4%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,438 shares of the construction company's stock after acquiring an additional 2,658 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of EMCOR Group worth $13,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EME. True Wealth Design LLC boosted its holdings in shares of EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after buying an additional 26 shares during the period. GeoWealth Management LLC boosted its holdings in shares of EMCOR Group by 12.4% in the fourth quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after buying an additional 28 shares during the period. Continuum Advisory LLC lifted its position in shares of EMCOR Group by 53.7% in the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after purchasing an additional 29 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of EMCOR Group by 3.4% in the first quarter. Alps Advisors Inc. now owns 908 shares of the construction company's stock worth $336,000 after purchasing an additional 30 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of EMCOR Group by 17.9% in the first quarter. Allworth Financial LP now owns 217 shares of the construction company's stock worth $87,000 after purchasing an additional 33 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EME. DA Davidson boosted their price objective on shares of EMCOR Group from $515.00 to $725.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Stifel Nicolaus boosted their price objective on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Northcoast Research lowered shares of EMCOR Group from a "buy" rating to a "neutral" rating and set a $500.00 price objective on the stock. in a research report on Thursday, August 7th. Baird R W raised shares of EMCOR Group to a "strong-buy" rating in a research report on Friday, June 27th. Finally, UBS Group set a $750.00 price objective on shares of EMCOR Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $594.50.

EMCOR Group Stock Performance

NYSE EME traded down $6.86 on Thursday, hitting $609.85. 239,187 shares of the stock were exchanged, compared to its average volume of 488,283. 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 business's fifty day moving average is $551.52 and its 200 day moving average is $462.91. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $667.64. The company has a market capitalization of $27.30 billion, a PE ratio of 25.31 and a beta of 1.27.

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. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the firm posted $5.25 earnings per share. The company's quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

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

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.