Silvercrest Asset Management Group LLC Boosts Stake in EMCOR Group, Inc. (NYSE:EME)


Silvercrest Asset Management Group LLC boosted its holdings in shares of EMCOR Group, Inc. (NYSE:EMEFree Report) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 384,202 shares of the construction company’s stock after purchasing an additional 29,835 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.81% of EMCOR Group worth $70,993,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EME. Envestnet Asset Management Inc. lifted its position in shares of EMCOR Group by 562.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 978,137 shares of the construction company’s stock valued at $24,087,000 after buying an additional 830,522 shares in the last quarter. FMR LLC lifted its holdings in EMCOR Group by 50.6% during the first quarter. FMR LLC now owns 2,262,285 shares of the construction company’s stock valued at $367,825,000 after purchasing an additional 760,499 shares in the last quarter. Norges Bank purchased a new position in EMCOR Group during the fourth quarter valued at $63,867,000. JPMorgan Chase & Co. lifted its stake in EMCOR Group by 96.7% in the 1st quarter. JPMorgan Chase & Co. now owns 651,082 shares of the construction company’s stock valued at $105,859,000 after buying an additional 320,153 shares in the last quarter. Finally, Morgan Stanley lifted its stake in EMCOR Group by 103.1% in the 4th quarter. Morgan Stanley now owns 521,712 shares of the construction company’s stock valued at $77,271,000 after buying an additional 264,826 shares in the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of EMCOR Group in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock.

Get Our Latest Research Report on EMCOR Group

EMCOR Group Price Performance

EME stock traded up $1.80 during midday trading on Friday, reaching $214.32. The stock had a trading volume of 197,203 shares, compared to its average volume of 243,895. The company’s fifty day simple moving average is $207.88 and its 200 day simple moving average is $200.27. The company has a current ratio of 1.26, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 18.69 and a beta of 1.09. EMCOR Group, Inc. has a 52-week low of $141.89 and a 52-week high of $227.49.

EMCOR Group (NYSE:EMEGet Free Report) last posted its quarterly earnings results on Thursday, October 26th. The construction company reported $3.61 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.90. The firm had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.15 billion. EMCOR Group had a net margin of 4.53% and a return on equity of 26.05%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $2.16 earnings per share. As a group, sell-side analysts predict that EMCOR Group, Inc. will post 12.38 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Monday, October 16th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, October 13th. EMCOR Group’s dividend payout ratio (DPR) is 6.28%.

EMCOR Group Profile (Free Report)

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; 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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Original: MarketBeat News Feed: Silvercrest Asset Management Group LLC Boosts Stake in EMCOR Group, Inc. (NYSE:EME)