Harvest Fund Management Co. Ltd Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Harvest Fund Management Co. Ltd lessened its stake in EMCOR Group, Inc. (NYSE:EME) by 42.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,006 shares of the construction company’s stock after selling 2,192 shares during the period. Harvest Fund Management Co. Ltd’s holdings in EMCOR Group were worth $1,294,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Acadian Asset Management LLC boosted its position in EMCOR Group by 34.4% in the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares in the last quarter. AQR Capital Management LLC boosted its position in EMCOR Group by 27.5% in the 2nd quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after purchasing an additional 88,909 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of EMCOR Group by 4.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after buying an additional 14,447 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of EMCOR Group by 3.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock valued at $114,299,000 after buying an additional 9,755 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of EMCOR Group by 99.2% during the 2nd 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. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

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

EMCOR Group Stock Performance

Shares of EME stock opened at $510.91 on Tuesday. The stock’s fifty day moving average is $457.00 and its two-hundred day moving average is $402.97. The firm has a market capitalization of $23.50 billion, a P/E ratio of 25.95 and a beta of 1.07. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $532.38.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data 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. The company had revenue of $3.70 billion for 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 firm’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 EPS. On average, equities 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

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.