Nuveen LLC Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Nuveen LLC invested approximately $71.82 million in EMCOR Group, acquiring 194,306 shares during the first quarter, representing 0.43% ownership of the company.
• EMCOR Group reported earnings per share of $6.72 for the latest quarter, exceeding analyst expectations of $5.68, with revenues of $4.30 billion, up 17.4% compared to the previous year.
• Equities analysts have a consensus rating of "Moderate Buy" for EMCOR Group, with an average price target of $594.50, indicating positive market sentiment towards the stock.

Nuveen LLC bought a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 194,306 shares of the construction company's stock, valued at approximately $71,821,000. Nuveen LLC owned 0.43% of EMCOR Group at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in EMCOR Group by 24.3% during the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after acquiring an additional 26 shares during the period. GeoWealth Management LLC lifted its holdings in EMCOR Group by 12.4% during the fourth quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock worth $115,000 after acquiring an additional 28 shares during the period. Continuum Advisory LLC lifted its holdings in EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after acquiring an additional 29 shares during the period. Alps Advisors Inc. lifted its holdings in EMCOR Group by 3.4% during the first quarter. Alps Advisors Inc. now owns 908 shares of the construction company's stock worth $336,000 after acquiring an additional 30 shares during the period. Finally, Allworth Financial LP lifted its holdings in EMCOR Group by 17.9% during the first quarter. Allworth Financial LP now owns 217 shares of the construction company's stock worth $87,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EME shares. Jefferies Financial Group started coverage on EMCOR Group in a report on Friday, June 27th. They set a "buy" rating on the stock. Robert W. Baird began coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating and a $560.00 target price on the stock. Hovde Group upgraded EMCOR Group to a "hold" rating in a research note on Friday, June 27th. Wall Street Zen upgraded EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, DA Davidson boosted their target price on EMCOR Group from $515.00 to $725.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, EMCOR Group currently has an average rating of "Moderate Buy" and a consensus target price of $594.50.

EMCOR Group Stock Performance

Shares of NYSE:EME traded down $4.62 during midday trading on Friday, reaching $605.13. 233,189 shares of the company traded hands, compared to its average volume of 388,565. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $667.64. The firm has a market capitalization of $27.09 billion, a price-to-earnings ratio of 25.11 and a beta of 1.27. The firm's fifty day moving average price is $556.32 and its two-hundred day moving average price is $465.48.

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

EMCOR Group Dividend Announcement

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