Hennessy Advisors Inc. Sells 154,400 Shares of EMCOR Group, Inc. (NYSE:EME)

Hennessy Advisors Inc. cut its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 84.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,500 shares of the construction company's stock after selling 154,400 shares during the quarter. Hennessy Advisors Inc. owned 0.06% of EMCOR Group worth $12,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of EME. Caprock Group LLC lifted its holdings in shares of EMCOR Group by 0.4% during the 3rd 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 last quarter. First Horizon Advisors Inc. lifted its stake in EMCOR Group by 13.0% during the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company's stock worth $101,000 after purchasing an additional 27 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in shares of EMCOR Group by 3.8% in the 3rd 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. Fortem Financial Group LLC increased its position in shares of EMCOR Group by 0.5% during the 4th quarter. Fortem Financial Group LLC now owns 6,978 shares of the construction company's stock valued at $3,167,000 after purchasing an additional 32 shares during the last quarter. Finally, Mount Lucas Management LP raised its holdings in shares of EMCOR Group by 2.5% during the 3rd 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. Hedge funds and other institutional investors own 92.59% of the company's stock.

EMCOR Group Stock 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 305,268. The stock's 50-day simple moving average is $488.17 and its two-hundred day simple moving average is $431.39. EMCOR Group, Inc. has a one year low of $217.22 and a one year high of $532.38. 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 (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.98 by $0.82. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company's revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.61 EPS. As a group, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, January 16th. EMCOR Group's payout ratio is 5.08%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EME shares. The Goldman Sachs Group assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a "sell" rating and a $445.00 target price for the company. StockNews.com raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 9th. Stifel Nicolaus started coverage on shares of EMCOR Group in a research report on Friday, November 15th. They issued a "buy" rating and a $600.00 target price on the stock. Finally, Northcoast Research began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a "buy" rating and a $600.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, EMCOR Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $518.75.

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.