Connor Clark & Lunn Investment Management Ltd. Sells 10,812 Shares of EMCOR Group, Inc. (NYSE:EME)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 22.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,737 shares of the construction company’s stock after selling 10,812 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in EMCOR Group were worth $15,816,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in EME. Cumberland Partners Ltd lifted its holdings in EMCOR Group by 60.0% during the 3rd quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock worth $1,722,000 after buying an additional 1,500 shares during the period. Cetera Advisors LLC lifted its stake in shares of EMCOR Group by 165.3% in the first quarter. Cetera Advisors LLC now owns 6,209 shares of the construction company’s stock worth $2,174,000 after acquiring an additional 3,869 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in EMCOR Group by 173.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company’s stock valued at $23,473,000 after acquiring an additional 34,553 shares during the last quarter. Gulf International Bank UK Ltd acquired a new stake in EMCOR Group during the 2nd quarter valued at approximately $1,405,000. Finally, MinichMacGregor Wealth Management LLC bought a new position in EMCOR Group during the 3rd quarter worth approximately $8,352,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 0.4 %

Shares of EME stock opened at $515.82 on Thursday. The firm has a 50 day moving average of $449.43 and a 200-day moving average of $400.01. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 26.20 and a beta of 1.07. EMCOR Group, Inc. has a 52 week low of $209.31 and a 52 week high of $525.31.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the company posted $3.61 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts anticipate that EMCOR Group, Inc. will post 20.75 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is currently 5.08%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EME shares. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson increased their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus began coverage on EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 price objective on the stock.

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.