The Manufacturers Life Insurance Company Trims Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

The Manufacturers Life Insurance Company trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 18.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 108,016 shares of the construction company’s stock after selling 23,769 shares during the period. The Manufacturers Life Insurance Company’s holdings in EMCOR Group were worth $46,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Acadian Asset Management LLC grew its stake in EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares during the period. Panagora Asset Management Inc. grew its stake in EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after purchasing an additional 126,148 shares during the period. Renaissance Technologies LLC grew its stake in EMCOR Group by 99.2% in the second 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. grew its stake in shares of EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after acquiring an additional 91,837 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after acquiring an additional 88,909 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

EMCOR Group stock opened at $507.95 on Friday. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38. The stock has a market capitalization of $23.37 billion, a PE ratio of 25.80 and a beta of 1.07. The business’s fifty day moving average is $464.81 and its 200 day moving average is $406.25.

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 return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company earned $3.61 earnings per share. EMCOR Group’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. EMCOR Group’s payout ratio is currently 5.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus assumed coverage on EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 target price on the stock. Finally, Northcoast Research assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.