Dynamic Technology Lab Private Ltd Cuts Stake in EMCOR Group, Inc. (NYSE:EME)

Dynamic Technology Lab Private Ltd cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 35.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,529 shares of the construction company’s stock after selling 3,521 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in EMCOR Group were worth $2,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in EMCOR Group by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 144,801 shares of the construction company’s stock valued at $50,711,000 after purchasing an additional 13,995 shares during the period. Ascent Group LLC purchased a new position in shares of EMCOR Group in the 1st quarter valued at about $261,000. Caxton Associates LP acquired a new position in shares of EMCOR Group during the first quarter worth about $929,000. Bayesian Capital Management LP increased its stake in shares of EMCOR Group by 18.4% during the first quarter. Bayesian Capital Management LP now owns 2,668 shares of the construction company’s stock worth $934,000 after buying an additional 415 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of EMCOR Group by 66.8% during the first quarter. Janus Henderson Group PLC now owns 37,611 shares of the construction company’s stock worth $13,171,000 after buying an additional 15,066 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

NYSE EME opened at $504.92 on Monday. EMCOR Group, Inc. has a 12 month low of $209.31 and a 12 month high of $532.38. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 25.64 and a beta of 1.07. The firm’s fifty day moving average price is $457.00 and its 200 day moving average price is $402.81.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.77 billion. During the same quarter last year, the company posted $3.61 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is currently 5.08%.

Analysts Set New Price Targets

Several research firms have commented on EME. Stifel Nicolaus assumed coverage on shares of EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday. They set a “sell” rating and a $445.00 target price for the company. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Northcoast Research began coverage on EMCOR Group in a research report on Friday. They set a “buy” rating and a $600.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $518.75.

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.