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

Oppenheimer & Co. Inc. trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,158 shares of the construction company’s stock after selling 813 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in EMCOR Group were worth $3,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Burgundy Asset Management Ltd. raised its holdings in shares of EMCOR Group by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after buying an additional 11,479 shares during the last quarter. Acadian Asset Management LLC increased its position in EMCOR Group by 34.4% in the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after acquiring an additional 134,575 shares in the last quarter. AQR Capital Management LLC raised 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. Allspring Global Investments Holdings LLC lifted its position 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 in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position 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 in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of EMCOR Group in a research report on Friday. They issued a “buy” rating and a $600.00 price objective for the company. DA Davidson boosted their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

EMCOR Group Price Performance

Shares of NYSE EME opened at $498.74 on Friday. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $525.31. The firm has a market capitalization of $22.94 billion, a P/E ratio of 25.33 and a beta of 1.07. The company’s 50 day simple moving average is $440.92 and its 200 day simple moving average is $396.41.

EMCOR Group (NYSE:EME) last posted its quarterly 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 business posted $3.61 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. Sell-side analysts expect that EMCOR Group, Inc. will post 20.75 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced 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 of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. EMCOR Group’s payout ratio is currently 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.