Pitcairn Co. Cuts Stake in EMCOR Group, Inc. (NYSE:EME)

Pitcairn Co. lowered its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,631 shares of the construction company’s stock after selling 505 shares during the quarter. Pitcairn Co.’s holdings in EMCOR Group were worth $1,563,000 at the end of the most recent reporting period.

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

EMCOR Group Price Performance

NYSE:EME opened at $504.92 on Friday. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 25.64 and a beta of 1.07. EMCOR Group, Inc. has a 1 year low of $209.31 and a 1 year high of $532.38. The business has a 50 day simple moving average of $457.00 and a 200-day simple moving average of $402.62.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the company earned $3.61 EPS. EMCOR Group’s quarterly 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 fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid 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 0.20%. EMCOR Group’s dividend payout ratio (DPR) is 5.08%.

Wall Street Analyst Weigh In

EME has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price target for the company. Northcoast Research started coverage on EMCOR Group in a report on Friday. They set a “buy” rating and a $600.00 price target for the company. The Goldman Sachs Group started coverage on EMCOR Group in a research note on Friday. They issued a “sell” rating and a $445.00 price objective 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 given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EMCOR Group presently has a consensus 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.