Sierra Summit Advisors LLC Decreases Holdings in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Sierra Summit Advisors LLC has reduced its holdings in EMCOR Group, Inc. by 85.4%, now owning only 1,782 shares, valued at $659,000.
• Several institutions have increased their stakes in EMCOR Group, including Private Trust Co. NA and Janney Montgomery Scott LLC, with a total institutional ownership of 92.59%.
• EMCOR Group reported a quarterly earnings of $6.72 EPS, exceeding expectations, along with a revenue increase of 17.4% year-over-year.

Sierra Summit Advisors LLC lowered its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 85.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,782 shares of the construction company's stock after selling 10,447 shares during the quarter. Sierra Summit Advisors LLC's holdings in EMCOR Group were worth $659,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EME. 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 objective on the stock. DA Davidson upped their target price on EMCOR Group from $515.00 to $725.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Northcoast Research lowered EMCOR Group from a "buy" rating to a "neutral" rating and set a $500.00 price target on the stock. in a research report on Thursday. TD Securities began coverage on EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. Finally, Stifel Nicolaus raised their target price on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One investment 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 stock. According to MarketBeat.com, EMCOR Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $594.50.

EMCOR Group Stock Up 0.1%

EMCOR Group stock opened at $617.96 on Friday. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $667.64. The stock has a 50 day moving average of $542.98 and a two-hundred day moving average of $461.08. 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 stock has a market capitalization of $27.66 billion, a price-to-earnings ratio of 25.64 and a beta of 1.27.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, topping the consensus estimate of $5.68 by $1.04. EMCOR Group had a return on equity of 38.01% and a net margin of 7.07%. The business had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter in the prior year, the business earned $5.25 earnings per share. The company's quarterly revenue was up 17.4% compared to the same quarter last year. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, July 15th. EMCOR Group's payout ratio is 4.15%.

About EMCOR Group

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.

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