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

Fmr LLC trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 35.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,325,664 shares of the construction company’s stock after selling 1,279,009 shares during the period. Fmr LLC owned about 5.06% of EMCOR Group worth $1,001,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Matrix Trust Co purchased a new stake in shares of EMCOR Group during the second quarter valued at approximately $26,000. Proffitt & Goodson Inc. bought a new position in EMCOR Group in the 2nd quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in EMCOR Group in the 3rd quarter valued at $33,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group during the 2nd quarter worth $29,000. Finally, ORG Partners LLC purchased a new position in shares of EMCOR Group in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 1.3 %

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

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

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Analyst Upgrades and Downgrades

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