Connor Clark & Lunn Investment Management Ltd. Reduces Position in EMCOR Group, Inc. (NYSE:EME)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,737 shares of the construction company's stock after selling 10,812 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of EMCOR Group worth $15,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Caprock Group LLC increased its position in shares of EMCOR Group by 0.4% during the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company's stock valued at $2,513,000 after buying an additional 22 shares during the period. Cassaday & Co Wealth Management LLC grew 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 in the last quarter. Mount Lucas Management LP grew its holdings in shares of EMCOR Group by 2.5% during the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company's stock worth $598,000 after purchasing an additional 34 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of EMCOR Group by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company's stock worth $587,000 after purchasing an additional 43 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its holdings in shares of EMCOR Group by 0.8% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 5,773 shares of the construction company's stock worth $2,486,000 after purchasing an additional 45 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Trading Up 2.0 %

Shares of NYSE:EME traded up $10.19 during trading on Thursday, reaching $526.01. 65,361 shares of the company traded hands, compared to its average volume of 433,257. The firm has a market capitalization of $24.20 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 $532.38. The business's fifty day moving average is $452.05 and its 200-day moving average is $400.82.

EMCOR Group (NYSE:EME - Get Free Report) last released 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 firm had revenue of $3.70 billion during 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 business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 earnings per share. On average, sell-side analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. DA Davidson boosted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a "buy" rating in a report on Friday, July 26th. StockNews.com raised EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus initiated coverage on EMCOR Group in a research note on Friday, November 15th. They issued a "buy" rating and a $600.00 target price for the company.

EMCOR Group Company 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.