JPMorgan Chase & Co. Has $104.74 Million Stake in EMCOR Group, Inc. (NYSE:EME)

JPMorgan Chase & Co. increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 15.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,280 shares of the construction company’s stock after buying an additional 31,659 shares during the period. JPMorgan Chase & Co. owned 0.53% of EMCOR Group worth $104,739,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of EMCOR Group by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 68,808 shares of the construction company’s stock worth $31,143,000 after purchasing an additional 5,007 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in EMCOR Group by 46.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 951 shares of the construction company’s stock worth $409,000 after buying an additional 301 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of EMCOR Group during the 3rd quarter worth about $238,000. Fulcrum Equity Management bought a new stake in shares of EMCOR Group in the 3rd quarter valued at about $205,000. Finally, SkyView Investment Advisors LLC raised its position in shares of EMCOR Group by 0.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 7,533 shares of the construction company’s stock valued at $3,243,000 after acquiring an additional 68 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Price Performance

Shares of NYSE EME opened at $453.90 on Thursday. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $532.38. The stock has a market capitalization of $20.88 billion, a price-to-earnings ratio of 23.05 and a beta of 1.09. The business has a 50-day moving average of $483.25 and a 200-day moving average of $422.46.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm posted $3.61 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EME shares. Northcoast Research assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus began coverage on EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

About EMCOR Group

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.