EMCOR Group, Inc. (NYSE:EME) Holdings Trimmed by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC reduced its holdings in EMCOR Group, Inc. by 68.3%, selling 3,461 shares during the first quarter, bringing their total ownership to 1,606 shares valued at $594,000.
• EMCOR Group reported a quarterly earnings per share (EPS) of $6.72, exceeding analysts' expectations of $5.68, alongside revenues of $4.30 billion, up 17.4% year-over-year.
• Several institutional investors have increased their stakes in EMCOR, with 92.59% of the stock now owned by institutional investors, highlighting strong interest in the company's growth potential.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 68.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,606 shares of the construction company's stock after selling 3,461 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in EMCOR Group were worth $594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EME. Cordatus Wealth Management LLC bought a new position in EMCOR Group in the first quarter worth approximately $260,000. Seizert Capital Partners LLC bought a new position in shares of EMCOR Group in the 1st quarter worth approximately $7,710,000. Mesirow Financial Investment Management Inc. grew its position in EMCOR Group by 48.8% in 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. Bayforest Capital Ltd boosted its stake in shares of EMCOR Group by 92.3% in the first quarter. Bayforest Capital Ltd now owns 2,265 shares of the construction company's stock worth $837,000 after acquiring an additional 1,087 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of EMCOR Group in the first quarter worth approximately $1,209,000. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Trading Down 0.8%

Shares of NYSE EME traded down $4.94 during trading hours on Thursday, hitting $617.33. The company's stock had a trading volume of 217,821 shares, compared to its average volume of 493,571. The business has a 50-day simple moving average of $537.07 and a 200-day simple moving average of $459.69. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 25.62 and a beta of 1.27. 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, Inc. has a 12 month low of $320.89 and a 12 month high of $667.64.

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

EMCOR Group Dividend Announcement

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

Wall Street Analyst Weigh In

EME has been the topic of a number of recent research reports. William Blair assumed coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating on the stock. Robert W. Baird began coverage on EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating and a $560.00 price target for the company. DA Davidson boosted their target price on EMCOR Group from $515.00 to $725.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wall Street Zen raised EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, UBS Group set a $750.00 target price on EMCOR Group and gave the company a "buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.