Citigroup Inc. Lowers Stake in EMCOR Group, Inc. (NYSE:EME)

Citigroup Inc. lowered its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,492 shares of the construction company’s stock after selling 322 shares during the period. Citigroup Inc. owned approximately 0.08% of EMCOR Group worth $16,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EME. Matrix Trust Co purchased a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. bought a new stake in EMCOR Group in the second quarter worth $27,000. Innealta Capital LLC purchased a new stake in shares of EMCOR Group in the second quarter worth $29,000. ORG Partners LLC bought a new position in shares of EMCOR Group during the second quarter valued at $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of EMCOR Group in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Down 1.3 %

EME opened at $507.95 on Thursday. EMCOR Group, Inc. has a twelve month low of $209.31 and a twelve month high of $532.38. The firm has a 50 day moving average price of $463.26 and a 200-day moving average price of $405.54. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 25.80 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its quarterly 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. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm earned $3.61 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. As a group, analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is currently 5.08%.

Analysts Set New Price Targets

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

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.