OVERSEA CHINESE BANKING Corp Ltd Sells 1,395 Shares of EMCOR Group, Inc. (NYSE:EME)

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of EMCOR Group, Inc. (NYSE:EME) by 55.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,114 shares of the construction company’s stock after selling 1,395 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in EMCOR Group were worth $480,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Entropy Technologies LP raised its stake in shares of EMCOR Group by 62.4% in the 3rd quarter. Entropy Technologies LP now owns 1,252 shares of the construction company’s stock valued at $539,000 after buying an additional 481 shares in the last quarter. Apollon Wealth Management LLC raised its position in EMCOR Group by 8.8% in the third quarter. Apollon Wealth Management LLC now owns 4,770 shares of the construction company’s stock worth $2,054,000 after purchasing an additional 387 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in EMCOR Group by 33.1% during the third quarter. Los Angeles Capital Management LLC now owns 232,969 shares of the construction company’s stock worth $100,300,000 after purchasing an additional 57,871 shares during the period. Meritage Portfolio Management boosted its holdings in EMCOR Group by 8.7% during the third quarter. Meritage Portfolio Management now owns 6,036 shares of the construction company’s stock valued at $2,599,000 after purchasing an additional 485 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in EMCOR Group by 16.4% during the third quarter. Crossmark Global Holdings Inc. now owns 6,220 shares of the construction company’s stock valued at $2,677,000 after purchasing an additional 876 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EME. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Trading Down 2.7 %

Shares of EMCOR Group stock opened at $499.99 on Thursday. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $525.31. The firm’s 50-day moving average price is $438.03 and its two-hundred day moving average price is $395.70. The stock has a market capitalization of $23.00 billion, a price-to-earnings ratio of 25.39 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $3.61 EPS. As a group, equities research analysts predict that EMCOR Group, Inc. will post 20.75 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is presently 5.08%.

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.