EMCOR Group, Inc. $EME Shares Sold by TrinityBridge Ltd

TrinityBridge Ltd trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 21.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 139,359 shares of the construction company’s stock after selling 37,686 shares during the quarter. EMCOR Group accounts for 3.1% of TrinityBridge Ltd’s investment portfolio, making the stock its 9th biggest holding. TrinityBridge Ltd’s holdings in EMCOR Group were worth $105,050,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of EMCOR Group in the second quarter valued at $3,416,412,000. Deutsche Bank AG acquired a new stake in shares of EMCOR Group in the second quarter worth $342,273,000. Bank of America Corp DE acquired a new stake in shares of EMCOR Group in the second quarter worth $282,509,000. Bank of New York Mellon Corp acquired a new stake in shares of EMCOR Group in the second quarter worth $207,597,000. Finally, Legal & General Group Plc purchased a new position in shares of EMCOR Group during the second quarter valued at $168,025,000. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Up 3.3%

EMCOR Group stock opened at $705.44 on Wednesday. The company’s fifty day simple moving average is $739.61 and its 200-day simple moving average is $779.84. EMCOR Group, Inc. has a 12 month low of $564.92 and a 12 month high of $951.96. The stock has a market cap of $30.88 billion, a P/E ratio of 20.38 and a beta of 1.16.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.37 by $1.23. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The business had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $6.57 earnings per share. EMCOR Group’s quarterly revenue was up 28.8% compared to the same quarter last year. On average, equities research analysts expect that EMCOR Group, Inc. will post 35.13 earnings per share for the current fiscal year.

EMCOR Group announced that its board has authorized a share buyback program on Thursday, October 29th that permits the company to repurchase $500 million in shares. This buyback authorization permits the construction company to repurchase up to 1.7% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s board believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. EMCOR Group’s payout ratio is 4.62%.

Analyst Ratings Changes

EME has been the topic of several recent analyst reports. DA Davidson set a $1,047.00 price target on EMCOR Group in a research report on Monday, August 10th. Weiss Ratings lowered EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Oppenheimer decreased their price objective on EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Monday. The Goldman Sachs Group lowered their target price on EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Finally, Cantor Fitzgerald dropped their target price on EMCOR Group from $1,047.00 to $920.00 and set an “overweight” rating on the stock in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $951.86.

EMCOR Group Profile

EMCOR Group, Inc provides construction, engineering, and building services through a network of specialty contracting businesses. Its core activities include electrical and mechanical construction, energy infrastructure, building systems, facilities services, and industrial maintenance. The company serves commercial, institutional, industrial, manufacturing, healthcare, education, government, and infrastructure customers.

Its services cover the design, installation, operation, maintenance, and upgrading of electrical, heating, ventilation, air-conditioning, plumbing, fire protection, and building automation systems.