Engineers Gate Manager LP trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 7.8% during the second quarter, Holdings Channel.com reports. The firm owned 8,991 shares of the construction company’s stock after selling 759 shares during the quarter. Engineers Gate Manager LP’s holdings in EMCOR Group were worth $7,461,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in EMCOR Group by 3.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 356 shares of the construction company’s stock worth $270,000 after purchasing an additional 13 shares during the period. PAX Financial Group LLC increased its stake in EMCOR Group by 3.6% during the 4th quarter. PAX Financial Group LLC now owns 404 shares of the construction company’s stock valued at $247,000 after buying an additional 14 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of EMCOR Group by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 739 shares of the construction company’s stock worth $452,000 after buying an additional 15 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its position in shares of EMCOR Group by 3.7% during the 1st quarter. Investment Advisory Services Inc. TX ADV now owns 419 shares of the construction company’s stock worth $309,000 after buying an additional 15 shares in the last quarter. Finally, Narus Financial Partners LLC lifted its stake in shares of EMCOR Group by 2.0% in the 1st quarter. Narus Financial Partners LLC now owns 798 shares of the construction company’s stock worth $589,000 after acquiring an additional 16 shares during the period. 92.59% of the stock is currently owned by institutional investors.
EMCOR Group Trading Down 0.6%
NYSE:EME opened at $749.49 on Friday. EMCOR Group, Inc. has a twelve month low of $564.92 and a twelve month high of $951.96. The company has a 50-day moving average of $775.20 and a 200-day moving average of $798.42. The firm has a market cap of $33.06 billion, a price-to-earnings ratio of 23.31 and a beta of 1.13.
EMCOR Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were given a $0.40 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s payout ratio is 4.98%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on EME shares. UBS Group increased their price objective on shares of EMCOR Group from $975.00 to $1,065.00 and gave the company a “buy” rating in a report on Friday, July 31st. Oppenheimer boosted their target price on EMCOR Group from $1,100.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings downgraded EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. DA Davidson set a $1,047.00 price target on EMCOR Group in a research note on Monday, August 10th. Finally, Cantor Fitzgerald lowered their price target on EMCOR Group from $1,123.00 to $1,047.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $965.86.
Check Out Our Latest Analysis on EME
Insider Transactions at EMCOR Group
In other EMCOR Group news, Director Carol Lowe sold 950 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $844.50, for a total value of $802,275.00. Following the transaction, the director owned 17,278 shares of the company’s stock, valued at approximately $14,591,271. This represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.
About EMCOR Group
EMCOR Group, Inc is a specialty construction and building services company headquartered in Norwalk, Connecticut. Through its operating companies, EMCOR provides electrical and mechanical construction services for commercial, industrial, institutional and government facilities.
The company’s services include electrical power and communications systems, heating, ventilation and air-conditioning systems, plumbing, process and industrial piping, building automation, energy infrastructure, fire protection and transportation systems.
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