Jupiter Asset Management Ltd. Trims Stock Position in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in EMCOR Group by 36.6%, now holding 44,263 shares valued at approximately $16.36 million.
• EMCOR Group reported quarterly earnings of $6.72 per share, exceeding estimates, with revenues reaching $4.30 billion, a 17.4% increase compared to the previous year.
• The company declared a quarterly dividend of $0.25 per share, indicating a modest annual yield of 0.2% and a payout ratio of 4.15%.

Jupiter Asset Management Ltd. decreased its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,263 shares of the construction company's stock after selling 25,545 shares during the period. Jupiter Asset Management Ltd. owned about 0.10% of EMCOR Group worth $16,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EME. UNIVEST FINANCIAL Corp purchased a new stake in EMCOR Group during the 1st quarter worth about $2,134,000. MONECO Advisors LLC increased its holdings in EMCOR Group by 12.5% during the 1st quarter. MONECO Advisors LLC now owns 1,737 shares of the construction company's stock worth $642,000 after purchasing an additional 193 shares during the period. Cordatus Wealth Management LLC purchased a new stake in EMCOR Group during the 1st quarter worth about $260,000. Seizert Capital Partners LLC purchased a new stake in EMCOR Group during the 1st quarter worth about $7,710,000. Finally, Mesirow Financial Investment Management Inc. increased its holdings in EMCOR Group by 48.8% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 4,782 shares of the construction company's stock worth $1,768,000 after purchasing an additional 1,569 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Stock Down 0.6%

Shares of NYSE:EME traded down $3.56 on Thursday, hitting $618.71. 33,505 shares of the company's stock were exchanged, compared to its average volume of 492,771. The firm's 50-day moving average is $537.07 and its 200 day moving average is $459.69. The company has a market capitalization of $27.69 billion, a PE ratio of 25.67 and a beta of 1.27. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $667.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.18.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.68 by $1.04. The business had revenue of $4.30 billion during 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 business's quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.25 EPS. Sell-side analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EME shares. Baird R W upgraded EMCOR Group to a "strong-buy" rating in a report on Friday, June 27th. Robert W. Baird started coverage on EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating and a $560.00 price target on the stock. The Goldman Sachs Group upped their price target on EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a report on Tuesday, July 8th. Jefferies Financial Group started coverage on EMCOR Group in a report on Friday, June 27th. They set a "buy" rating on the stock. Finally, UBS Group set a $750.00 price target on EMCOR Group and gave the stock a "buy" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $594.50.

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.