New York State Common Retirement Fund Reduces Holdings in EMCOR Group, Inc. (NYSE:EME)

New York State Common Retirement Fund lowered its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 33.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,525 shares of the construction company's stock after selling 26,976 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of EMCOR Group worth $19,784,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the transaction, the director directly owned 7,094 shares of the company's stock, valued at $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EME. UBS Group initiated coverage on shares of EMCOR Group in a research note on Friday, June 13th. They set a "buy" rating and a $570.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of EMCOR Group from $384.00 to $435.00 and gave the company a "sell" rating in a report on Tuesday, July 8th. Stifel Nicolaus boosted their target price on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a report on Friday, July 11th. TD Securities initiated coverage on shares of EMCOR Group in a report on Friday, June 27th. They set a "buy" rating on the stock. Finally, Robert W. Baird initiated coverage on shares of EMCOR Group in a research report on Friday, June 27th. They issued an "outperform" rating and a $560.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, EMCOR Group has an average rating of "Moderate Buy" and a consensus target price of $532.00.

EMCOR Group Stock Up 1.4%

Shares of EME traded up $7.69 during mid-day trading on Thursday, hitting $560.99. The company's stock had a trading volume of 120,481 shares, compared to its average volume of 449,061. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $562.77. The company's 50-day moving average is $494.73 and its 200-day moving average is $446.43. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $25.11 billion, a price-to-earnings ratio of 24.79 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. The business had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company posted $4.17 earnings per share. On average, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.18%. EMCOR Group's dividend payout ratio is presently 4.42%.

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.