Harvest Fund Management Co. Ltd Sells 3,871 Shares of EMCOR Group, Inc. (NYSE:EME)

Key Points

• Harvest Fund Management Co. Ltd drastically reduced its stake in EMCOR Group, cutting its holdings by 97.9% to just 82 shares, valued at $30,000.
• Significant increases in holdings were reported by several hedge funds, with Pacer Advisors Inc. increasing by 3,878.2% and GAMMA Investing LLC by 49,775.5% in the first quarter.
• Analysts have raised price targets for EMCOR Group, with DA Davidson increasing its target from $515.00 to $725.00, supporting a general trend of positive market sentiment towards the stock.

Harvest Fund Management Co. Ltd decreased its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 97.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82 shares of the construction company's stock after selling 3,871 shares during the period. Harvest Fund Management Co. Ltd's holdings in EMCOR Group were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its stake in shares of EMCOR Group by 28.6% during the first quarter. Private Trust Co. NA now owns 279 shares of the construction company's stock valued at $103,000 after buying an additional 62 shares during the last quarter. Janney Montgomery Scott LLC grew its position in EMCOR Group by 20.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company's stock worth $7,317,000 after acquiring an additional 3,407 shares during the last quarter. Redwood Investment Management LLC purchased a new position in EMCOR Group in the 4th quarter worth approximately $1,417,000. Cambridge Investment Research Advisors Inc. lifted its position in EMCOR Group by 146.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,700 shares of the construction company's stock valued at $3,955,000 after purchasing an additional 6,361 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of EMCOR Group by 17.5% during the first quarter. Fifth Third Bancorp now owns 844 shares of the construction company's stock valued at $312,000 after purchasing an additional 126 shares during the period. Institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Down 0.3%

Shares of NYSE:EME traded down $2.03 during trading on Friday, hitting $625.46. The stock had a trading volume of 508,793 shares, compared to its average volume of 399,677. The company has a market capitalization of $28.00 billion, a PE ratio of 25.95 and a beta of 1.27. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average is $527.75 and its 200 day moving average is $456.93. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $667.64.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $6.72 earnings per share for the quarter, topping the consensus estimate of $5.68 by $1.04. The company had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.10 billion. EMCOR Group had a return on equity of 38.01% and a net margin of 7.07%. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.25 earnings per share. Analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, July 15th. EMCOR Group's dividend payout ratio (DPR) is 4.15%.

Insider Transactions at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer owned 208,989 shares in the company, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Robert W. Baird started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating and a $560.00 target price on the stock. The Goldman Sachs Group increased their target price on shares of EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. Hovde Group upgraded EMCOR Group to a "hold" rating in a report on Friday, June 27th. Finally, TD Securities began coverage on EMCOR Group in a report on Friday, June 27th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $605.33.

EMCOR Group 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.