Principal Financial Group Inc. Trims Stake in EMCOR Group, Inc. (NYSE:EME)

Principal Financial Group Inc. lessened its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 26.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,118 shares of the construction company's stock after selling 42,733 shares during the period. Principal Financial Group Inc. owned 0.25% of EMCOR Group worth $50,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atomi Financial Group Inc. bought a new stake in EMCOR Group during the first quarter valued at approximately $264,000. Sei Investments Co. lifted its holdings in shares of EMCOR Group by 3.8% during the 1st quarter. Sei Investments Co. now owns 128,492 shares of the construction company's stock worth $44,996,000 after acquiring an additional 4,647 shares during the last quarter. Meeder Advisory Services Inc. purchased a new position in EMCOR Group in the first quarter worth $283,000. Headlands Technologies LLC increased its stake in EMCOR Group by 51.4% in the first quarter. Headlands Technologies LLC now owns 209 shares of the construction company's stock valued at $73,000 after acquiring an additional 71 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new position in EMCOR Group in the first quarter valued at $356,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

EMCOR Group Trading Up 1.3 %

Shares of NYSE:EME traded up $6.44 during trading on Monday, reaching $520.59. 634,268 shares of the company traded hands, compared to its average volume of 434,128. EMCOR Group, Inc. has a 52-week low of $209.31 and a 52-week high of $525.31. The firm has a market capitalization of $23.95 billion, a price-to-earnings ratio of 26.41 and a beta of 1.07. The business's fifty day moving average is $429.51 and its 200-day moving average is $392.63.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating analysts' consensus estimates 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%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.61 EPS. On average, sell-side analysts predict that EMCOR Group, Inc. will post 20.75 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date was Tuesday, October 15th. EMCOR Group's dividend payout ratio (DPR) is currently 5.08%.

Analyst Ratings Changes

EME has been the topic of a number of recent research reports. StockNews.com upgraded shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 9th. DA Davidson raised their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a "buy" rating in a research note on Friday, July 26th.

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.