New York State Common Retirement Fund Trims Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

New York State Common Retirement Fund cut its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 12.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,957 shares of the construction company's stock after selling 12,211 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of EMCOR Group worth $35,715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EME. Matrix Trust Co acquired a new stake in EMCOR Group in the 2nd quarter valued at approximately $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group during the 2nd quarter worth about $27,000. Innealta Capital LLC acquired a new position in shares of EMCOR Group during the 2nd quarter worth about $29,000. ORG Partners LLC purchased a new position in EMCOR Group in the second quarter valued at approximately $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of EMCOR Group during the third quarter worth about $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 1.6 %

EME stock traded up $7.14 on Friday, reaching $453.21. 523,314 shares of the company's stock were exchanged, compared to its average volume of 288,512. The stock has a fifty day moving average of $418.65 and a 200-day moving average of $386.77. The firm has a market cap of $21.15 billion, a PE ratio of 23.02 and a beta of 1.07. EMCOR Group, Inc. has a twelve month low of $206.37 and a twelve month high of $461.87.

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, 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 business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm posted $3.61 EPS. The business's revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Tuesday, October 15th. EMCOR Group's dividend payout ratio is currently 5.08%.

Analyst Upgrades and Downgrades

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

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.