Charles Schwab Investment Management Inc. Trims Position in EMCOR Group, Inc. (NYSE:EME)

Charles Schwab Investment Management Inc. trimmed its stake in EMCOR Group, Inc. (NYSE:EME) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,262 shares of the construction company’s stock after selling 2,323 shares during the period. Charles Schwab Investment Management Inc. owned about 0.76% of EMCOR Group worth $150,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake 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. AQR Capital Management LLC increased its stake in shares of EMCOR Group by 27.5% during the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after buying an additional 88,909 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of EMCOR Group by 4.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock valued at $152,427,000 after acquiring an additional 14,447 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in EMCOR Group by 3.8% in the third quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock worth $114,299,000 after acquiring an additional 9,755 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after acquiring an additional 116,300 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EME. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research note on Friday, November 15th. They issued a “buy” rating and a $600.00 price objective for the company. Northcoast Research started coverage on EMCOR Group in a research report on Friday. They set a “buy” rating and a $600.00 price objective on the stock. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group began coverage on shares of EMCOR Group in a report on Friday. They issued a “sell” rating and a $445.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Price Performance

Shares of EME stock opened at $504.92 on Monday. The stock’s fifty day moving average price is $457.00 and its 200 day moving average price is $402.81. EMCOR Group, Inc. has a 1-year low of $209.31 and a 1-year high of $532.38. The company has a market cap of $23.23 billion, a price-to-earnings ratio of 25.64 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating the consensus estimate of $4.98 by $0.82. The firm 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 was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $3.61 EPS. As a group, equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 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.