Oppenheimer & Co. Inc. Sells 813 Shares of EMCOR Group, Inc. (NYSE:EME)

Oppenheimer & Co. Inc. reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,158 shares of the construction company’s stock after selling 813 shares during the period. Oppenheimer & Co. Inc.’s holdings in EMCOR Group were worth $3,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Saturna Capital Corp boosted its stake in EMCOR Group by 12.9% during the 3rd quarter. Saturna Capital Corp now owns 960 shares of the construction company’s stock valued at $413,000 after purchasing an additional 110 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of EMCOR Group by 91.4% during the third quarter. Victory Capital Management Inc. now owns 124,704 shares of the construction company’s stock worth $53,689,000 after buying an additional 59,546 shares during the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of EMCOR Group in the third quarter valued at approximately $239,000. Cumberland Partners Ltd grew its stake in shares of EMCOR Group by 60.0% in the third quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock worth $1,722,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in EMCOR Group by 4,025.0% during the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after acquiring an additional 161 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. DA Davidson increased their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report 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. Finally, Stifel Nicolaus assumed coverage on EMCOR Group in a report on Friday. They issued a “buy” rating and a $600.00 price target for the company.

EMCOR Group Price Performance

EME opened at $498.74 on Friday. The company has a market capitalization of $22.94 billion, a P/E ratio of 25.33 and a beta of 1.07. The firm’s fifty day moving average price is $440.92 and its two-hundred day moving average price is $396.41. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $525.31.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating 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 quarter in the previous year, the firm posted $3.61 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts expect that EMCOR Group, Inc. will post 20.75 EPS for the current fiscal year.

EMCOR Group Announces Dividend

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

EMCOR Group 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.