Synovus Financial Corp Sells 882 Shares of EMCOR Group, Inc. (NYSE:EME)

Synovus Financial Corp trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 27.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,354 shares of the construction company’s stock after selling 882 shares during the quarter. Synovus Financial Corp’s holdings in EMCOR Group were worth $1,013,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Caprock Group LLC increased its position in EMCOR Group by 0.4% during the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock worth $2,513,000 after acquiring an additional 22 shares during the period. First Horizon Advisors Inc. grew its position in shares of EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after purchasing an additional 27 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its holdings in shares of EMCOR Group by 3.8% during the third quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock worth $357,000 after purchasing an additional 30 shares during the period. Mount Lucas Management LP raised its position in shares of EMCOR Group by 2.5% in the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock valued at $598,000 after buying an additional 34 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of EMCOR Group by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

EMCOR Group Stock Performance

EMCOR Group stock opened at $484.57 on Tuesday. EMCOR Group, Inc. has a 52 week low of $209.31 and a 52 week high of $532.38. The stock has a market capitalization of $22.29 billion, a P/E ratio of 24.61 and a beta of 1.09. The stock has a fifty day moving average of $478.94 and a 200-day moving average of $415.02.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) 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 for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.61 earnings per share. On average, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is 5.08%.

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.