Trust Point Inc. Sells 83 Shares of EMCOR Group, Inc. (NYSE:EME)

Trust Point Inc. cut its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 4.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,836 shares of the construction company’s stock after selling 83 shares during the period. Trust Point Inc.’s holdings in EMCOR Group were worth $790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EME. Acadian Asset Management LLC boosted its stake in EMCOR Group by 55.6% during the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after acquiring an additional 139,919 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in shares of EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after buying an additional 126,148 shares in the last quarter. Renaissance Technologies LLC lifted 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted 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 in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after buying an additional 88,909 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Price Performance

Shares of EME stock opened at $453.82 on Friday. The firm has a 50-day moving average of $403.92 and a 200-day moving average of $380.48. The company has a market cap of $21.33 billion, a P/E ratio of 29.94 and a beta of 1.07. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $455.52.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. As a group, research analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EME. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson increased their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th.

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.