Martingale Asset Management L P Reduces Stock Position in EMCOR Group, Inc. (NYSE:EME)

Martingale Asset Management L P lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 14.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,605 shares of the construction company’s stock after selling 10,166 shares during the period. Martingale Asset Management L P owned 0.13% of EMCOR Group worth $26,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in shares of EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after buying an additional 134,575 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of EMCOR Group by 27.5% during the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after purchasing an additional 88,909 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of EMCOR Group by 4.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock worth $152,427,000 after purchasing an additional 14,447 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of EMCOR Group by 11.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after purchasing an additional 34,226 shares during the period. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of EMCOR Group by 3.8% during the third quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock worth $114,299,000 after purchasing an additional 9,755 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Down 1.3 %

Shares of EME opened at $507.95 on Friday. EMCOR Group, Inc. has a twelve month low of $209.31 and a twelve month high of $532.38. The company has a market capitalization of $23.37 billion, a P/E ratio of 25.80 and a beta of 1.07. The firm has a 50 day moving average of $464.81 and a 200 day moving average of $406.25.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm posted $3.61 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

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

Analyst Ratings Changes

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

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.