EMCOR Group, Inc. (NYSE:EME) Stock Holdings Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,957 shares of the construction company’s stock after selling 12,211 shares during the period. New York State Common Retirement Fund owned 0.18% of EMCOR Group worth $35,715,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Burgundy Asset Management Ltd. raised its position in shares of EMCOR Group by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after purchasing an additional 11,479 shares during the period. Acadian Asset Management LLC increased its position 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 buying an additional 134,575 shares during the period. AQR Capital Management LLC lifted its stake in EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after buying an additional 88,909 shares during the last quarter. 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 valued at $152,427,000 after acquiring an additional 14,447 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of EMCOR Group by 99.2% during the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after acquiring an additional 116,300 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

NYSE:EME opened at $453.21 on Friday. EMCOR Group, Inc. has a 1 year low of $206.37 and a 1 year high of $461.87. The business has a fifty day moving average of $418.65 and a 200-day moving average of $386.77. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 25.96 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating the consensus estimate of $4.98 by $0.82. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. EMCOR Group’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $3.61 EPS. On average, equities research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. EMCOR Group’s dividend payout ratio (DPR) is 5.73%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EME. DA Davidson lifted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

EMCOR Group Company 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.