Wellington Management Group LLP Sells 954 Shares of EMCOR Group, Inc. (NYSE:EME)

Wellington Management Group LLP lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 2.8% during the third quarter, Holdings Channel reports. The fund owned 32,971 shares of the construction company’s stock after selling 954 shares during the period. Wellington Management Group LLP’s holdings in EMCOR Group were worth $14,195,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of EMCOR Group by 1.5% in the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after purchasing an additional 24,541 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after acquiring an additional 134,575 shares during the last quarter. AQR Capital Management LLC raised its position 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 worth $150,553,000 after acquiring an additional 88,909 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of EMCOR Group by 4.3% during 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in EMCOR Group by 11.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock valued at $144,016,000 after acquiring an additional 34,226 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $479.28 on Friday. 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 P/E ratio of 24.34 and a beta of 1.09. The firm has a 50 day moving average price of $478.94 and a 200 day moving average price of $414.88.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the company earned $3.61 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts predict that EMCOR Group, Inc. will post 20.74 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. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EME shares. 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 target price on the stock. The Goldman Sachs Group started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective on the stock. Northcoast Research started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. Finally, StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. One equities 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 stock currently has an average rating of “Moderate Buy” and a consensus 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.