Moloney Securities Asset Management LLC Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Moloney Securities Asset Management LLC trimmed its stake in EMCOR Group, Inc. (NYSE:EME) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,496 shares of the construction company’s stock after selling 135 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in EMCOR Group were worth $1,075,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Burgundy Asset Management Ltd. grew its holdings in EMCOR Group by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after purchasing an additional 11,479 shares during the period. Acadian Asset Management LLC grew its holdings in EMCOR Group by 34.4% in 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 during the period. AQR Capital Management LLC grew its holdings in EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after purchasing an additional 88,909 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in EMCOR Group by 4.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after purchasing an additional 14,447 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 3.1 %

EME opened at $476.01 on Wednesday. EMCOR Group, Inc. has a 52-week low of $206.37 and a 52-week high of $476.50. The company has a 50 day moving average of $422.24 and a two-hundred day moving average of $389.03. The company has a market cap of $22.21 billion, a P/E ratio of 24.18 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business 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 company posted $3.61 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts anticipate that EMCOR Group, Inc. will post 20.75 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. EMCOR Group’s payout ratio is currently 5.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EME shares. DA Davidson boosted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

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.