EMCOR Group, Inc. (NYSE:EME) Shares Sold by Prentiss Smith & Co. Inc.

Prentiss Smith & Co. Inc. reduced its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,596 shares of the construction company's stock after selling 1,196 shares during the period. EMCOR Group makes up about 1.7% of Prentiss Smith & Co. Inc.'s investment portfolio, making the stock its 25th largest position. Prentiss Smith & Co. Inc.'s holdings in EMCOR Group were worth $2,540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. World Investment Advisors LLC bought a new position in shares of EMCOR Group in the third quarter valued at approximately $100,282,000. Nordea Investment Management AB raised its holdings in shares of EMCOR Group by 2,246.2% in the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company's stock valued at $65,036,000 after buying an additional 136,501 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in EMCOR Group by 45.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company's stock worth $121,871,000 after purchasing an additional 88,074 shares during the last quarter. International Assets Investment Management LLC bought a new stake in EMCOR Group during the 3rd quarter worth about $31,140,000. Finally, Victory Capital Management Inc. increased its stake in shares of EMCOR Group by 91.4% in the 3rd quarter. Victory Capital Management Inc. now owns 124,704 shares of the construction company's stock valued at $53,689,000 after acquiring an additional 59,546 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EME shares. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Monday. Northcoast Research started coverage on EMCOR Group in a research report on Friday, November 22nd. They set a "buy" rating and a $600.00 price objective on the stock. The Goldman Sachs Group started coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a "sell" rating and a $445.00 price objective on the stock. Finally, Stifel Nicolaus initiated coverage on EMCOR Group in a research note on Friday, November 15th. They set a "buy" rating and a $600.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $518.75.

EMCOR Group Price Performance

Shares of EMCOR Group stock traded up $2.12 during trading hours on Wednesday, reaching $440.39. The company had a trading volume of 506,307 shares, compared to its average volume of 490,128. EMCOR Group, Inc. has a one year low of $226.51 and a one year high of $545.29. The firm has a market cap of $20.26 billion, a PE ratio of 22.37 and a beta of 1.12. The business has a fifty day simple moving average of $485.73 and a 200 day simple moving average of $438.27.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate 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 return on equity of 34.99% and a net margin of 6.51%. The company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.61 earnings per share. On average, research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. EMCOR Group's payout ratio is 5.08%.

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.