Summit Global Investments Increases Stake in EMCOR Group, Inc.

Summit Global Investments has significantly increased its investment in EMCOR Group, Inc. (NYSE:EME) during the third quarter. According to the latest disclosure made to the Securities and Exchange Commission, the institutional investor's holdings rose by 58.4%, bringing their total to 10,821 shares. This change followed the acquisition of an additional 3,991 shares within the quarter.

As a result of this increase, Summit Global Investments now values its EMCOR Group shares at approximately $4,659,000 based on the most recent filing. This move is part of a broader trend where several institutional investors and hedge funds have been adjusting their holdings in the construction company.

Institutional Investors' Activity

In recent months, various institutional investors have made noteworthy transactions involving EMCOR Group. For instance, Matrix Trust Co established a new position in the second quarter, investing around $26,000. Additionally, Proffitt & Goodson Inc. initiated a stake in EMCOR Group worth approximately $27,000, while Innealta Capital LLC and ORG Partners LLC made investments of about $29,000 and $31,000, respectively, in the same quarter.

Moreover, ORG Wealth Partners LLC invested an estimated $33,000 in the third quarter, further contributing to the trend. Collectively, hedge funds and institutional investors now control over 92.59% of the company’s stock.

Recent Analyst Ratings

Several research analysts have recently provided updates on EMCOR Group’s stock. Notably, StockNews.com elevated EMCOR Group’s rating from "buy" to "strong-buy" in a report released on October 9th. On the other hand, DA Davidson increased its price target for EMCOR Group from $410.00 to $430.00, affirming a "buy" rating in a note issued on July 26th.

Current Stock Performance

As of the last trading session, EMCOR Group’s stock opened at $504.48. The company has seen considerable price movement, with a twelve-month low of $207.31 and a high of $509.46. In terms of financial metrics, EMCOR Group holds a market capitalization of $23.21 billion, a P/E ratio of 25.62, and a beta of 1.07. The stock's 50-day moving average stands at $427.08, while the 200-day moving average is $390.62.

Earnings Report Highlights

EMCOR Group's latest earnings report, released on October 31st, revealed an earnings per share (EPS) of $5.80 for the quarter, surpassing the analysts’ consensus estimate of $4.98 by $0.82. The reported revenue for the quarter was $3.70 billion, which was slightly below the anticipated $3.77 billion. EMCOR Group achieved a return on equity of 34.99% and a net margin of 6.51%, showing a 15.3% year-over-year growth in quarterly revenue.

Dividend Announcement

Recently, EMCOR Group announced a quarterly dividend, which was paid out on October 30th. Investors who were on record as of October 15th received a dividend of $0.25. The ex-dividend date was also noted as October 15th. This totals an annual dividend payout of $1.00, resulting in a yield of 0.20%. Currently, the company's dividend payout ratio is 5.08%.

Company Overview

EMCOR Group, Inc. is a leading provider of construction and facilities services in the United States and the United Kingdom. The company specializes in various services including design, integration, and installation related to power systems, energy solutions, and HVAC systems, among others. Its diverse portfolio helps clients in numerous industrial and construction-related areas.

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