Congress Asset Management Co. Has $144.32 Million Position in EMCOR Group, Inc. (NYSE:EME)

Congress Asset Management Co. trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 15.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,218 shares of the construction company’s stock after selling 60,847 shares during the quarter. EMCOR Group comprises approximately 1.0% of Congress Asset Management Co.’s holdings, making the stock its 23rd largest position. Congress Asset Management Co.’s holdings in EMCOR Group were worth $144,322,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Matrix Trust Co bought a new position in shares of EMCOR Group in the second quarter worth about $26,000. Proffitt & Goodson Inc. acquired a new stake in EMCOR Group in the 2nd quarter worth $27,000. Innealta Capital LLC acquired a new position in shares of EMCOR Group during the second quarter valued at about $29,000. ORG Partners LLC bought a new stake in shares of EMCOR Group in the second quarter valued at about $31,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of EMCOR Group in the 3rd quarter worth approximately $33,000. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson boosted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Trading Up 4.7 %

Shares of NYSE:EME traded up $20.15 during trading on Thursday, hitting $451.92. 204,180 shares of the company’s stock were exchanged, compared to its average volume of 428,321. The firm has a market cap of $21.24 billion, a P/E ratio of 28.48 and a beta of 1.07. The firm has a 50-day moving average price of $415.78 and a two-hundred day moving average price of $385.33. EMCOR Group, Inc. has a 1-year low of $204.11 and a 1-year high of $456.76.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the business posted $3.61 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The business 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 0.22%. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

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.