Louisiana State Employees Retirement System Sells 400 Shares of EMCOR Group, Inc. (NYSE:EME)

Louisiana State Employees Retirement System lessened its position in EMCOR Group, Inc. (NYSE:EME) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,900 shares of the construction company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in EMCOR Group were worth $5,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Highland Capital Management LLC increased its stake in EMCOR Group by 381.5% in the third quarter. Highland Capital Management LLC now owns 3,958 shares of the construction company’s stock valued at $1,704,000 after acquiring an additional 3,136 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of EMCOR Group during the third quarter valued at about $2,329,000. Heritage Oak Wealth Advisors LLC bought a new position in shares of EMCOR Group during the third quarter valued at about $431,000. Assenagon Asset Management S.A. grew its stake in shares of EMCOR Group by 66.8% during the third quarter. Assenagon Asset Management S.A. now owns 83,654 shares of the construction company’s stock valued at $36,016,000 after buying an additional 33,491 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of EMCOR Group by 7.1% during the third quarter. IFM Investors Pty Ltd now owns 9,218 shares of the construction company’s stock valued at $3,969,000 after buying an additional 612 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 3.9 %

EMCOR Group stock opened at $428.58 on Friday. The firm has a 50-day moving average of $411.96 and a 200-day moving average of $383.61. The firm has a market cap of $20.00 billion, a P/E ratio of 24.55 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $201.96 and a 1-year high of $456.16.

EMCOR Group (NYSE:EME) last posted its 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 company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. EMCOR Group’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 earnings per share. Research analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 5.73%.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the sale, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EME. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson raised their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

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.