Principal Financial Group Inc. Trims Holdings in EMCOR Group, Inc. (NYSE:EME)

Principal Financial Group Inc. trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 26.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,118 shares of the construction company’s stock after selling 42,733 shares during the quarter. Principal Financial Group Inc. owned 0.26% of EMCOR Group worth $50,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position in EMCOR Group by 15.6% in the 2nd quarter. Fifth Third Bancorp now owns 977 shares of the construction company’s stock valued at $357,000 after buying an additional 132 shares during the period. Highland Capital Management LLC boosted its holdings in shares of EMCOR Group by 12.1% in the second quarter. Highland Capital Management LLC now owns 822 shares of the construction company’s stock valued at $300,000 after purchasing an additional 89 shares during the period. AlphaCentric Advisors LLC bought a new position in EMCOR Group in the second quarter worth approximately $76,000. State of Michigan Retirement System grew its stake in EMCOR Group by 5.2% in the second quarter. State of Michigan Retirement System now owns 12,148 shares of the construction company’s stock worth $4,435,000 after purchasing an additional 600 shares in the last quarter. Finally, Railway Pension Investments Ltd purchased a new position in EMCOR Group during the 2nd quarter worth $1,241,000. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $465.82 on Monday. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38. The company has a market capitalization of $21.43 billion, a PE ratio of 23.66 and a beta of 1.09. The company has a 50-day simple moving average of $481.64 and a two-hundred day simple moving average of $418.20.

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

EMCOR Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EME shares. Northcoast Research began coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus assumed coverage on shares of EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Company 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.