EMCOR Group, Inc. (NYSE:EME) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd cut its stake in EMCOR Group, Inc. (NYSE:EME) by 42.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,006 shares of the construction company’s stock after selling 2,192 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in EMCOR Group were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EME. Matrix Trust Co acquired a new stake in shares of EMCOR Group during the 2nd quarter worth about $26,000. Proffitt & Goodson Inc. acquired a new stake in shares of EMCOR Group during the 2nd quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of EMCOR Group during the 3rd quarter worth about $33,000. Innealta Capital LLC acquired a new stake in shares of EMCOR Group during the 2nd quarter worth about $29,000. Finally, ORG Partners LLC acquired a new stake in shares of EMCOR Group during the 2nd quarter worth about $31,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EME shares. The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday. They set a “sell” rating and a $445.00 price objective for the company. Stifel Nicolaus initiated coverage on EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price objective for the company. Northcoast Research initiated coverage on EMCOR Group in a research report on Friday. They issued a “buy” rating and a $600.00 target price for the company. Finally, StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $518.75.

EMCOR Group Price Performance

NYSE EME opened at $510.91 on Tuesday. The company has a market cap of $23.50 billion, a P/E ratio of 25.95 and a beta of 1.07. The stock has a 50-day moving average of $457.00 and a two-hundred day moving average of $402.97. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the business posted $3.61 EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

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