Congress Asset Management Co. Decreases Stake in EMCOR Group, Inc. (NYSE:EME)

Congress Asset Management Co. trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 15.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,218 shares of the construction company's stock after selling 60,847 shares during the quarter. EMCOR Group accounts for approximately 1.0% of Congress Asset Management Co.'s investment portfolio, making the stock its 23rd largest holding. Congress Asset Management Co. owned approximately 0.71% of EMCOR Group worth $144,322,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. State of Michigan Retirement System raised its position in EMCOR Group by 2.7% during the 1st quarter. State of Michigan Retirement System now owns 11,548 shares of the construction company's stock valued at $4,044,000 after purchasing an additional 300 shares in the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of EMCOR Group in the first quarter valued at about $468,000. Commonwealth Equity Services LLC lifted its stake in EMCOR Group by 30.3% in the first quarter. Commonwealth Equity Services LLC now owns 6,174 shares of the construction company's stock worth $2,162,000 after acquiring an additional 1,436 shares during the period. Van ECK Associates Corp grew its holdings in EMCOR Group by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 19,055 shares of the construction company's stock worth $6,673,000 after acquiring an additional 5,097 shares in the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new position in EMCOR Group during the 1st quarter valued at about $261,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EME. StockNews.com raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 9th. DA Davidson increased their target price on EMCOR Group from $410.00 to $430.00 and gave the company a "buy" rating in a research report on Friday, July 26th.

EMCOR Group Stock Performance

EME traded up $14.19 on Thursday, hitting $445.96. The company had a trading volume of 548,165 shares, compared to its average volume of 430,049. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of 25.50 and a beta of 1.07. The stock has a fifty day moving average price of $415.78 and a 200-day moving average price of $385.33. EMCOR Group, Inc. has a 12-month low of $204.11 and a 12-month high of $456.76.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.61 EPS. Analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. EMCOR Group's payout ratio is 5.73%.

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.