State of New Jersey Common Pension Fund D Cuts Stake in EMCOR Group, Inc. (NYSE:EME)

State of New Jersey Common Pension Fund D reduced its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,976 shares of the construction company’s stock after selling 146 shares during the period. State of New Jersey Common Pension Fund D’s holdings in EMCOR Group were worth $7,309,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Meritage Portfolio Management increased its stake in EMCOR Group by 8.7% during the 3rd quarter. Meritage Portfolio Management now owns 6,036 shares of the construction company’s stock worth $2,599,000 after buying an additional 485 shares during the period. Crossmark Global Holdings Inc. increased its stake in EMCOR Group by 16.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,220 shares of the construction company’s stock worth $2,677,000 after buying an additional 876 shares during the period. TimesSquare Capital Management LLC increased its stake in EMCOR Group by 3.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock worth $114,299,000 after buying an additional 9,755 shares during the period. Axxcess Wealth Management LLC increased its position in shares of EMCOR Group by 11.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,533 shares of the construction company’s stock valued at $660,000 after purchasing an additional 153 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of EMCOR Group by 10.1% in the 3rd quarter. Covestor Ltd now owns 545 shares of the construction company’s stock valued at $234,000 after purchasing an additional 50 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Trading Up 1.3 %

Shares of EMCOR Group stock opened at $520.59 on Tuesday. The company has a fifty day simple moving average of $429.51 and a 200-day simple moving average of $392.63. EMCOR Group, Inc. has a 12-month low of $209.31 and a 12-month high of $525.31. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 26.44 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued 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 net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business posted $3.61 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts forecast that EMCOR Group, Inc. will post 20.75 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s payout ratio is 5.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. DA Davidson increased their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report 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.