Oppenheimer Asset Management Inc. Lowers Stock Position in EMCOR Group, Inc. $EME

Oppenheimer Asset Management Inc. cut its position in shares of EMCOR Group, Inc. (NYSE:EME) by 6.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,494 shares of the construction company’s stock after selling 312 shares during the period. Oppenheimer Asset Management Inc.’s holdings in EMCOR Group were worth $2,404,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in EMCOR Group by 43.6% during the first quarter. AQR Capital Management LLC now owns 703,456 shares of the construction company’s stock valued at $253,065,000 after purchasing an additional 213,631 shares in the last quarter. Northern Trust Corp lifted its holdings in EMCOR Group by 3.7% during the first quarter. Northern Trust Corp now owns 571,487 shares of the construction company’s stock valued at $211,239,000 after purchasing an additional 20,604 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in EMCOR Group by 3,878.2% during the first quarter. Pacer Advisors Inc. now owns 534,585 shares of the construction company’s stock valued at $197,599,000 after purchasing an additional 521,147 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in EMCOR Group by 13.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 518,354 shares of the construction company’s stock valued at $275,184,000 after purchasing an additional 60,693 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its holdings in EMCOR Group by 6.9% during the first quarter. Burgundy Asset Management Ltd. now owns 515,522 shares of the construction company’s stock valued at $190,552,000 after purchasing an additional 33,069 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

Shares of NYSE EME opened at $776.12 on Thursday. The firm has a 50-day simple moving average of $655.59 and a 200-day simple moving average of $559.02. The stock has a market capitalization of $34.74 billion, a price-to-earnings ratio of 32.20 and a beta of 1.24. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $778.64.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $5.68 by $1.04. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.10 billion. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.25 earnings per share. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Wednesday, October 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 15th. EMCOR Group’s dividend payout ratio is 4.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Northcoast Research downgraded shares of EMCOR Group from a “buy” rating to a “neutral” rating and set a $500.00 price objective on the stock. in a report on Thursday, August 7th. Stifel Nicolaus increased their price objective on shares of EMCOR Group from $692.00 to $718.00 and gave the company a “buy” rating in a report on Monday, October 13th. William Blair assumed coverage on shares of EMCOR Group in a report on Thursday, September 11th. They set an “outperform” rating on the stock. The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and increased their price objective for the company from $495.00 to $676.00 in a report on Tuesday, October 7th. Finally, Zacks Research raised shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a report on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $654.83.

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.