EMCOR Group, Inc. (NYSE:EME) Stock Holdings Decreased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. significantly reduced its holdings in EMCOR Group, decreasing its position by 88% in the first quarter, leaving it with only 1,441 shares valued at approximately $533,000.
• EMCOR Group reported strong financials with $6.72 earnings per share (EPS) for the last quarter, exceeding estimates by $1.04, along with a revenue increase of 17.4% year-over-year.
• Analysts have positive forecasts for EMCOR Group, with price targets raised significantly, including a new high of $725.00 from DA Davidson, indicating a consensus of a "Moderate Buy" rating.

iA Global Asset Management Inc. reduced its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 88.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,441 shares of the construction company's stock after selling 10,569 shares during the period. iA Global Asset Management Inc.'s holdings in EMCOR Group were worth $533,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BankPlus Trust Department grew its position in EMCOR Group by 200.0% during the first quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock valued at $27,000 after purchasing an additional 48 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in EMCOR Group during the first quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. purchased a new position in EMCOR Group during the first quarter valued at approximately $30,000. Continuum Advisory LLC grew its position in EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after purchasing an additional 29 shares in the last quarter. Finally, Dogwood Wealth Management LLC purchased a new position in EMCOR Group during the fourth quarter valued at approximately $40,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $617.33 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $540.04 and a 200-day simple moving average of $460.45. The stock has a market capitalization of $27.63 billion, a price-to-earnings ratio of 25.62 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.

EMCOR Group (NYSE:EME - Get Free Report) last posted 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 the consensus estimate of $4.10 billion. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. EMCOR Group's quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.25 EPS. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

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

Analysts Set New Price Targets

EME has been the topic of a number of research analyst reports. DA Davidson boosted their price objective on shares of EMCOR Group from $515.00 to $725.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Hovde Group raised shares of EMCOR Group to a "hold" rating in a research report on Friday, June 27th. Stifel Nicolaus boosted their price objective on shares of EMCOR Group from $503.00 to $597.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Baird R W raised shares of EMCOR Group to a "strong-buy" rating in a research report on Friday, June 27th. Finally, William Blair initiated coverage on shares of EMCOR Group in a research report on Friday, June 27th. They issued an "outperform" rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $594.50.

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.

Want to see what other hedge funds are holding EME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EMCOR Group, Inc. (NYSE:EME - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.