Oppenheimer Asset Management Inc. Sells 1,510 Shares of EMCOR Group, Inc. (NYSE:EME)

Oppenheimer Asset Management Inc. cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,351 shares of the construction company's stock after selling 1,510 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in EMCOR Group were worth $2,734,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cumberland Partners Ltd lifted its position in EMCOR Group by 60.0% in the third quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company's stock valued at $1,722,000 after purchasing an additional 1,500 shares during the last quarter. Cetera Advisors LLC raised its holdings in EMCOR Group by 165.3% in the 1st quarter. Cetera Advisors LLC now owns 6,209 shares of the construction company's stock worth $2,174,000 after purchasing an additional 3,869 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of EMCOR Group by 173.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company's stock worth $23,473,000 after purchasing an additional 34,553 shares during the period. Gulf International Bank UK Ltd bought a new stake in shares of EMCOR Group during the 2nd quarter valued at about $1,405,000. Finally, Executive Wealth Management LLC purchased a new position in shares of EMCOR Group during the third quarter valued at about $3,148,000. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Price Performance

EMCOR Group stock traded up $0.75 during mid-day trading on Friday, reaching $498.86. The stock had a trading volume of 436,785 shares, compared to its average volume of 433,739. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $525.31. The company has a 50-day moving average price of $443.84 and a two-hundred day moving average price of $397.63. The company has a market capitalization of $22.95 billion, a price-to-earnings ratio of 25.34 and a beta of 1.07.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating analysts' consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter in the prior year, the company posted $3.61 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that EMCOR Group, Inc. will post 20.75 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. 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 payout ratio is currently 5.08%.

Analysts Set New Price Targets

Several research firms have weighed in on EME. DA Davidson lifted their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a "buy" rating in a research report on Friday, July 26th. 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 assumed coverage on EMCOR Group in a research report on Friday. They set a "buy" rating and a $600.00 price objective 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.