EMCOR Group, Inc. (NYSE:EME) Position Cut by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its holdings in EMCOR Group, Inc. (NYSE:EME) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,787 shares of the construction company’s stock after selling 50,306 shares during the quarter. EMCOR Group comprises 0.7% of Lord Abbett & CO. LLC’s portfolio, making the stock its 25th largest holding. Lord Abbett & CO. LLC owned about 1.20% of EMCOR Group worth $237,131,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EME. Sequoia Financial Advisors LLC raised its stake in shares of EMCOR Group by 8.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 643 shares of the construction company’s stock worth $235,000 after buying an additional 50 shares in the last quarter. ORG Partners LLC acquired a new stake in EMCOR Group in the 2nd quarter valued at about $31,000. Swedbank AB acquired a new stake in EMCOR Group in the 2nd quarter valued at about $8,785,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of EMCOR Group by 971.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after purchasing an additional 91,837 shares in the last quarter. Finally, Leeward Investments LLC MA grew its stake in shares of EMCOR Group by 5.7% in the 2nd quarter. Leeward Investments LLC MA now owns 64,741 shares of the construction company’s stock worth $23,636,000 after purchasing an additional 3,464 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $479.05 on Friday. The company’s fifty day moving average price is $478.06 and its two-hundred day moving average price is $414.17. EMCOR Group, Inc. has a 52-week low of $209.31 and a 52-week high of $532.38. The firm has a market capitalization of $22.04 billion, a PE ratio of 24.33 and a beta of 1.09.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results 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 firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.61 earnings per share. Analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently disclosed 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 yield of 0.21%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio is currently 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.