OVERSEA CHINESE BANKING Corp Ltd Has $480,000 Position in EMCOR Group, Inc. (NYSE:EME)

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 55.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,114 shares of the construction company's stock after selling 1,395 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in EMCOR Group were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Matrix Trust Co bought a new position in EMCOR Group in the 2nd quarter valued at approximately $26,000. Proffitt & Goodson Inc. bought a new position in EMCOR Group in the 2nd quarter valued at approximately $27,000. Innealta Capital LLC bought a new position in EMCOR Group in the 2nd quarter valued at approximately $29,000. ORG Partners LLC bought a new position in EMCOR Group in the 2nd quarter valued at approximately $31,000. Finally, ORG Wealth Partners LLC bought a new position in EMCOR Group in the 3rd quarter valued at approximately $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Price Performance

Shares of NYSE:EME traded down $5.58 during mid-day trading on Thursday, hitting $494.78. The company had a trading volume of 235,484 shares, compared to its average volume of 433,570. The firm has a fifty day moving average price of $438.03 and a 200 day moving average price of $395.70. The company has a market capitalization of $22.76 billion, a PE ratio of 25.39 and a beta of 1.07. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $525.31.

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, beating the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion during 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%. EMCOR Group's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.61 EPS. Research analysts expect 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. Investors of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group's payout ratio is currently 5.08%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EME shares. DA Davidson raised 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. 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.