Principal Financial Group Inc. Sells 42,733 Shares of EMCOR Group, Inc. (NYSE:EME)

Principal Financial Group Inc. reduced its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 26.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,118 shares of the construction company's stock after selling 42,733 shares during the quarter. Principal Financial Group Inc. owned approximately 0.26% of EMCOR Group worth $50,853,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Caprock Group LLC grew its stake in shares of EMCOR Group by 0.4% in the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company's stock valued at $2,513,000 after purchasing an additional 22 shares during the period. First Horizon Advisors Inc. grew its position in EMCOR Group by 13.0% in the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company's stock valued at $101,000 after acquiring an additional 27 shares during the period. Cassaday & Co Wealth Management LLC grew its position in EMCOR Group by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company's stock valued at $357,000 after acquiring an additional 30 shares during the period. Mount Lucas Management LP raised its stake in EMCOR Group by 2.5% during the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company's stock worth $598,000 after acquiring an additional 34 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of EMCOR Group by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company's stock valued at $587,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Stock Down 0.5 %

EME stock traded down $2.56 during trading on Monday, hitting $463.26. The company had a trading volume of 191,972 shares, compared to its average volume of 432,153. The firm has a 50-day moving average price of $481.86 and a 200-day moving average price of $418.83. EMCOR Group, Inc. has a 12 month low of $209.31 and a 12 month high of $532.38. The stock has a market cap of $21.31 billion, a price-to-earnings ratio of 23.53 and a beta of 1.09.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.82. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 earnings per share. Equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EME shares. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research report on Friday, November 15th. They set a "buy" rating and a $600.00 target price for the company. Northcoast Research began coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a "buy" rating and a $600.00 price objective for the company. The Goldman Sachs Group began coverage on EMCOR Group in a report on Friday, November 22nd. They issued a "sell" rating and a $445.00 target price on the stock. Finally, StockNews.com raised EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $518.75.

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.