Fmr LLC Cuts Holdings in EMCOR Group, Inc. (NYSE:EME)

Fmr LLC reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 35.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,325,664 shares of the construction company’s stock after selling 1,279,009 shares during the period. Fmr LLC owned approximately 0.05% of EMCOR Group worth $1,001,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after purchasing an additional 134,575 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after buying an additional 126,148 shares in the last quarter. Renaissance Technologies LLC grew its position in EMCOR Group by 99.2% during the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after acquiring an additional 116,300 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of EMCOR Group by 971.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after acquiring an additional 91,837 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of EMCOR Group by 27.5% in the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after acquiring an additional 88,909 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

EMCOR Group Trading Down 1.3 %

EMCOR Group stock opened at $507.95 on Thursday. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38. The firm has a market cap of $23.37 billion, a P/E ratio of 25.80 and a beta of 1.07. The firm has a 50-day moving average of $463.26 and a 200-day moving average of $405.54.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.82. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm earned $3.61 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. Research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is 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.