Assenagon Asset Management S.A. Buys 33,491 Shares of EMCOR Group, Inc. (NYSE:EME)

Assenagon Asset Management S.A. increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 66.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,654 shares of the construction company’s stock after acquiring an additional 33,491 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of EMCOR Group worth $36,016,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in shares of EMCOR Group during the fourth quarter worth $9,565,000. Wealth Enhancement Advisory Services LLC grew its stake in EMCOR Group by 89.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock valued at $7,595,000 after acquiring an additional 10,269 shares during the period. Kathmere Capital Management LLC bought a new stake in shares of EMCOR Group in the first quarter worth about $241,000. Independence Bank of Kentucky acquired a new stake in shares of EMCOR Group during the first quarter worth about $33,000. Finally, Diversified Trust Co lifted its holdings in shares of EMCOR Group by 27.2% during the 1st quarter. Diversified Trust Co now owns 6,283 shares of the construction company’s stock valued at $2,200,000 after purchasing an additional 1,343 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

EME stock opened at $446.07 on Friday. The stock has a market capitalization of $20.96 billion, a P/E ratio of 29.42 and a beta of 1.07. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $456.16. The business has a 50-day moving average of $410.72 and a 200-day moving average of $382.92.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.95 EPS. Equities analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.22%. EMCOR Group’s payout ratio is currently 6.60%.

Analyst Upgrades and Downgrades

EME has been the subject of a number of research reports. DA Davidson increased their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares in the company, valued at $3,202,513.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.26% of the company’s stock.

EMCOR Group 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.