Assenagon Asset Management S.A. Reduces Stake in EMCOR Group, Inc. (NYSE:EME)

Assenagon Asset Management S.A. lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,217 shares of the construction company's stock after selling 22,437 shares during the period. Assenagon Asset Management S.A. owned 0.13% of EMCOR Group worth $27,786,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in shares of EMCOR Group in the third quarter valued at approximately $33,000. Anchor Investment Management LLC increased its stake in shares of EMCOR Group by 89.3% in the 2nd quarter. Anchor Investment Management LLC now owns 106 shares of the construction company's stock worth $39,000 after acquiring an additional 50 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of EMCOR Group by 3,466.7% during the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company's stock worth $46,000 after acquiring an additional 104 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of EMCOR Group during the 3rd quarter valued at about $49,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of EMCOR Group in the third quarter valued at about $55,000. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Trading Down 0.8 %

Shares of EMCOR Group stock traded down $3.88 on Friday, hitting $507.12. The stock had a trading volume of 375,221 shares, compared to its average volume of 379,347. The company's 50 day moving average price is $488.31 and its 200 day moving average price is $429.85. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 25.75 and a beta of 1.12. EMCOR Group, Inc. has a 52-week low of $217.22 and a 52-week high of $532.38.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. During the same period last year, the business posted $3.61 EPS. The company's revenue was up 15.3% on a year-over-year basis. Analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 16th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. EMCOR Group's payout ratio is currently 5.08%.

Analysts Set New Price Targets

EME has been the topic of a number of recent analyst reports. Northcoast Research began coverage on EMCOR Group in a report on Friday, November 22nd. They issued 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 report on Wednesday, October 9th. The Goldman Sachs Group began coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a "sell" rating and a $445.00 price objective on the stock. Finally, Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research note on Friday, November 15th. They set a "buy" rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $518.75.

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.