Resona Asset Management Co. Ltd. Boosts Holdings in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in EMCOR Group, Inc. by 4.2% in the first quarter, owning 14,672 shares valued at approximately $5.43 million.
• EMCOR Group recently reported a net income of $6.72 EPS for the last quarter, exceeding expectations and reflecting a year-over-year revenue growth of 17.4%.
• The stock has received multiple ratings, with current analyst consensus indicating a "Moderate Buy" and an average target price of $594.50, reflecting a positive outlook for the company.

Resona Asset Management Co. Ltd. boosted its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,672 shares of the construction company's stock after buying an additional 597 shares during the period. Resona Asset Management Co. Ltd.'s holdings in EMCOR Group were worth $5,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BankPlus Trust Department grew its position in EMCOR Group by 200.0% in the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock valued at $27,000 after buying an additional 48 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in EMCOR Group in the first quarter valued at $28,000. Hazlett Burt & Watson Inc. acquired a new stake in EMCOR Group in the first quarter valued at $30,000. Pandora Wealth Inc. acquired a new stake in EMCOR Group in the first quarter valued at $37,000. Finally, Continuum Advisory LLC lifted its holdings in EMCOR Group by 53.7% in the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after acquiring an additional 29 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EME has been the subject of a number of recent analyst reports. UBS Group set a $750.00 target price on EMCOR Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen raised EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Stifel Nicolaus raised their target price on EMCOR Group from $503.00 to $597.00 and gave the company a "buy" rating in a report on Friday, July 11th. Robert W. Baird initiated coverage on EMCOR Group in a report on Friday, June 27th. They issued an "outperform" rating and a $560.00 target price for the company. Finally, Baird R W raised EMCOR Group to a "strong-buy" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $594.50.

EMCOR Group Trading Down 0.8%

NYSE:EME opened at $605.13 on Friday. The company has a market capitalization of $27.09 billion, a PE ratio of 25.11 and a beta of 1.27. 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 52-week low of $320.89 and a 52-week high of $667.64. The stock has a fifty day simple moving average of $556.32 and a 200-day simple moving average of $465.31.

EMCOR Group (NYSE:EME - Get Free Report) last released 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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.10 billion. EMCOR Group had a return on equity of 38.01% and a net margin of 7.07%. The business's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.25 EPS. On average, equities research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.2%. 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.

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