Concentric Capital Strategies LP Has $2.01 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Concentric Capital Strategies LP cut its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 14.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,673 shares of the construction company’s stock after selling 818 shares during the period. Concentric Capital Strategies LP’s holdings in EMCOR Group were worth $2,012,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EME. Acadian Asset Management LLC grew its stake in shares of EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after acquiring an additional 134,575 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of EMCOR Group by 155.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after purchasing an additional 126,148 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after buying an additional 116,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after buying an additional 91,837 shares during the period. Finally, AQR Capital Management LLC grew its position in EMCOR Group by 27.5% during the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after buying an additional 88,909 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 0.9 %

Shares of NYSE EME opened at $505.46 on Tuesday. The stock has a 50-day moving average price of $467.72 and a two-hundred day moving average price of $408.50. EMCOR Group, Inc. has a 12 month low of $209.31 and a 12 month high of $532.38. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 25.67 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.61 EPS. On average, sell-side analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Northcoast Research assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. Stifel Nicolaus started coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a “buy” rating and a $600.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. Finally, StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.