2,020 EMCOR Group, Inc. $EME Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in EMCOR Group, Inc. (NYSE:EME) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,706 shares of the construction company’s stock after selling 2,020 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of EMCOR Group worth $17,131,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EME. NBH Bank bought a new position in shares of EMCOR Group during the second quarter valued at $27,000. Mascoma Wealth Management LLC bought a new position in EMCOR Group in the 3rd quarter worth about $26,000. Ascentis Independent Advisors bought a new position in EMCOR Group in the 1st quarter worth about $27,000. GK Wealth Management LLC purchased a new stake in EMCOR Group during the 3rd quarter valued at about $31,000. Finally, Clearstead Trust LLC purchased a new stake in EMCOR Group during the 2nd quarter valued at about $38,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EME shares. Robert W. Baird raised their price objective on shares of EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. started coverage on shares of EMCOR Group in a research note on Tuesday. They issued a “neutral” rating and a $700.00 target price on the stock. UBS Group dropped their target price on shares of EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Oppenheimer reduced their price target on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, EMCOR Group has a consensus rating of “Moderate Buy” and an average target price of $902.88.

EMCOR Group Price Performance

EME stock opened at $666.66 on Thursday. EMCOR Group, Inc. has a 1-year low of $564.92 and a 1-year high of $951.96. The business has a fifty day moving average price of $725.87 and a 200-day moving average price of $777.99. The stock has a market capitalization of $29.19 billion, a P/E ratio of 19.26 and a beta of 1.16.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 EPS for the quarter, beating the consensus estimate of $8.37 by $1.23. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The company had revenue of $5.54 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the firm posted $6.57 earnings per share. EMCOR Group’s revenue was up 28.8% compared to the same quarter last year. As a group, analysts anticipate that EMCOR Group, Inc. will post 34.79 earnings per share for the current year.

EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 29th that authorizes the company to buy back $500 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 1.7% of its stock through open market purchases. Share buyback plans are typically an indication that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, October 15th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group’s dividend payout ratio is currently 4.62%.

EMCOR Group Profile

EMCOR Group is a provider of mechanical and electrical construction and facilities services. Through its operating companies, it designs, installs, maintains and upgrades building systems and related infrastructure for commercial, industrial, institutional and government customers. Its services include heating, ventilation and air conditioning; electrical and power systems; plumbing and piping; building automation; energy infrastructure; and ongoing facilities management. The company also provides industrial services, such as maintenance and support for process and manufacturing facilities.