Prosperity Financial Group Inc. Sells 329 Shares of EMCOR Group, Inc. (NYSE:EME)

Prosperity Financial Group Inc. decreased its position in EMCOR Group, Inc. (NYSE:EME) by 35.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 602 shares of the construction company’s stock after selling 329 shares during the quarter. Prosperity Financial Group Inc.’s holdings in EMCOR Group were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EME. Caprock Group LLC lifted its position in EMCOR Group by 0.4% during the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after purchasing an additional 22 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after buying an additional 27 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its holdings in shares of EMCOR Group by 3.8% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock valued at $357,000 after acquiring an additional 30 shares during the last quarter. Mount Lucas Management LP grew its position in EMCOR Group by 2.5% in the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock worth $598,000 after acquiring an additional 34 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in EMCOR Group by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after purchasing an additional 43 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on EME. Northcoast Research began coverage on EMCOR Group in a report on Friday. They set a “buy” rating and a $600.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a report on Friday. They issued a “sell” rating and a $445.00 target price for the company. Stifel Nicolaus started coverage on shares of EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price target on the stock. Finally, StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Trading Down 4.2 %

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’s 50-day moving average price is $457.00 and its 200-day moving average price is $402.81. The stock has a market cap of $23.23 billion, a PE ratio of 25.64 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.77 billion. During the same period in the previous year, the company posted $3.61 EPS. EMCOR Group’s revenue was up 15.3% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders 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 0.20%. EMCOR Group’s dividend payout ratio is currently 5.08%.

About EMCOR Group

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.