Retirement Systems of Alabama Sells 1,327 Shares of EMCOR Group, Inc. (NYSE:EME)

Retirement Systems of Alabama cut its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,587 shares of the construction company's stock after selling 1,327 shares during the quarter. Retirement Systems of Alabama owned 0.16% of EMCOR Group worth $32,542,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new position in shares of EMCOR Group in the 3rd quarter valued at $100,282,000. Acadian Asset Management LLC raised its position in EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company's stock worth $192,028,000 after purchasing an additional 134,575 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in EMCOR Group by 155.5% during 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 period. Renaissance Technologies LLC boosted its holdings 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 purchasing an additional 116,300 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of EMCOR Group by 971.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company's stock valued at $36,978,000 after purchasing an additional 91,837 shares during the period. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Down 0.2 %

EME stock traded down $0.97 during midday trading on Friday, reaching $479.28. The company's stock had a trading volume of 266,118 shares, compared to its average volume of 431,388. The business's 50-day simple moving average is $478.94 and its 200-day simple moving average is $414.88. EMCOR Group, Inc. has a 52 week low of $209.31 and a 52 week high of $532.38. The stock has a market cap of $22.05 billion, a PE ratio of 24.34 and a beta of 1.09.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results 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 firm 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 company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.61 earnings per share. As a group, equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.21%. EMCOR Group's dividend payout ratio is presently 5.08%.

Analysts Set New Price Targets

Several research firms have recently weighed in on EME. Northcoast Research started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a "buy" rating and a $600.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a "sell" rating and a $445.00 price target on the stock. StockNews.com raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus began coverage on EMCOR Group in a report on Friday, November 15th. They issued a "buy" rating and a $600.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.