Short Interest in EMCOR Group, Inc. (NYSE:EME) Grows By 12.9%

EMCOR Group, Inc. (NYSE:EME) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 490,200 shares, an increase of 12.9% from the December 15th total of 434,000 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 377,200 shares, the short-interest ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

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

EMCOR Group Stock Down 0.8 %

EME opened at $507.12 on Monday. EMCOR Group has a 52 week low of $217.22 and a 52 week high of $532.38. The stock has a market cap of $23.33 billion, a PE ratio of 25.75 and a beta of 1.12. The business has a 50 day moving average of $488.17 and a 200-day moving average of $431.82.

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

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, January 16th. EMCOR Group’s payout ratio is currently 5.08%.

Hedge Funds Weigh In On EMCOR Group

A number of institutional investors and hedge funds have recently made changes to their positions in EME. World Investment Advisors LLC bought a new position in shares of EMCOR Group during the third quarter valued at $100,282,000. Nordea Investment Management AB grew its position in EMCOR Group by 2,246.2% during the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock valued at $65,036,000 after purchasing an additional 136,501 shares during the last quarter. AQR Capital Management LLC increased its stake in EMCOR Group by 27.5% during the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after purchasing an additional 88,909 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in EMCOR Group by 45.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after buying an additional 88,074 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of EMCOR Group in the third quarter worth approximately $31,140,000. Institutional investors own 92.59% of the company’s stock.

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.