Forsta AP Fonden Reduces Position in EMCOR Group, Inc. (NYSE:EME)

Forsta AP Fonden trimmed its holdings in EMCOR Group, Inc. (NYSE:EME) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,581 shares of the construction company’s stock after selling 500 shares during the period. Forsta AP Fonden’s holdings in EMCOR Group were worth $8,888,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC acquired a new stake in EMCOR Group in the 3rd quarter valued at about $100,282,000. Nordea Investment Management AB increased its holdings in shares of EMCOR Group by 2,246.2% in the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock valued at $65,036,000 after purchasing an additional 136,501 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in EMCOR Group by 45.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after buying an additional 88,074 shares in the last quarter. International Assets Investment Management LLC purchased a new position in EMCOR Group during the third quarter worth approximately $31,140,000. Finally, Victory Capital Management Inc. boosted its stake in EMCOR Group by 91.4% during the third quarter. Victory Capital Management Inc. now owns 124,704 shares of the construction company’s stock worth $53,689,000 after buying an additional 59,546 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

NYSE EME opened at $449.31 on Friday. The stock has a market capitalization of $20.67 billion, a P/E ratio of 22.82 and a beta of 1.12. The firm’s 50-day moving average is $485.73 and its two-hundred day moving average is $438.27. EMCOR Group, Inc. has a 12 month low of $226.99 and a 12 month high of $545.29.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the business posted $3.61 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 5.08%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Northcoast Research assumed coverage on EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target for the company. Finally, Stifel Nicolaus started coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.75.

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.