Synovus Financial Corp Sells 882 Shares of EMCOR Group, Inc. (NYSE:EME)

Synovus Financial Corp trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 27.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,354 shares of the construction company’s stock after selling 882 shares during the quarter. Synovus Financial Corp’s holdings in EMCOR Group were worth $1,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Proffitt & Goodson Inc. acquired a new stake in EMCOR Group during the 2nd quarter worth approximately $27,000. Innealta Capital LLC bought a new position in shares of EMCOR Group during the second quarter valued at $29,000. ORG Wealth Partners LLC acquired a new position in shares of EMCOR Group during the third quarter worth $33,000. Anchor Investment Management LLC grew its stake in shares of EMCOR Group by 89.3% in the second quarter. Anchor Investment Management LLC now owns 106 shares of the construction company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after purchasing an additional 104 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on EME. Northcoast Research assumed coverage on EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price on the stock. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Stock Performance

NYSE:EME opened at $484.57 on Tuesday. EMCOR Group, Inc. has a 52 week low of $209.31 and a 52 week high of $532.38. The firm has a 50-day moving average price of $478.94 and a two-hundred day moving average price of $415.02. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 24.61 and a beta of 1.09.

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

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

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.