US Bancorp DE Trims Stake in EMCOR Group, Inc. (NYSE:EME)

US Bancorp DE reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 11.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,440 shares of the construction company's stock after selling 1,778 shares during the period. US Bancorp DE's holdings in EMCOR Group were worth $6,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company's stock worth $137,074,000 after acquiring an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company's stock worth $75,668,000 after purchasing an additional 126,148 shares during the last quarter. Renaissance Technologies LLC boosted its position in EMCOR Group by 99.2% during the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company's stock valued at $85,246,000 after buying an additional 116,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of EMCOR Group by 971.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company's stock valued at $36,978,000 after buying an additional 91,837 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company's stock worth $150,553,000 after buying an additional 88,909 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 1.8 %

Shares of NYSE:EME traded up $8.29 during midday trading on Monday, hitting $461.50. 393,988 shares of the stock traded hands, compared to its average volume of 430,317. The business's 50 day moving average is $418.65 and its two-hundred day moving average is $387.11. The stock has a market capitalization of $21.53 billion, a PE ratio of 23.02 and a beta of 1.07. EMCOR Group, Inc. has a one year low of $206.37 and a one year high of $468.59.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.82. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter last year, the business posted $3.61 EPS. The business's revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.