EMCOR Group, Inc. (NYSE:EME) Short Interest Down 6.7% in October

EMCOR Group, Inc. (NYSE:EME) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 693,400 shares, a decrease of 6.7% from the September 30th total of 742,800 shares. Based on an average trading volume of 363,500 shares, the short-interest ratio is currently 1.9 days. Approximately 1.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its holdings in EMCOR Group by 55.6% in the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after acquiring an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of EMCOR Group by 155.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after purchasing an additional 126,148 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in EMCOR Group by 971.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after purchasing an additional 91,837 shares in the last quarter. Finally, AQR Capital Management LLC raised 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 buying an additional 88,909 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME stock traded up $10.23 during trading on Friday, hitting $456.30. The stock had a trading volume of 128,543 shares, compared to its average volume of 428,627. EMCOR Group has a 1-year low of $206.37 and a 1-year high of $461.87. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 25.54 and a beta of 1.07. The company’s 50 day moving average price is $417.23 and its two-hundred day moving average price is $385.75.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data 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. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 earnings per share. As a group, sell-side analysts forecast that EMCOR Group will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s payout ratio is 5.73%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EME. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson lifted their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report 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.