Ritholtz Wealth Management Sells 1,113 Shares of EMCOR Group, Inc. $EME

Ritholtz Wealth Management trimmed its holdings in EMCOR Group, Inc. (NYSE:EME) by 7.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 14,849 shares of the construction company’s stock after selling 1,113 shares during the quarter. Ritholtz Wealth Management’s holdings in EMCOR Group were worth $11,203,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in EMCOR Group during the 3rd quarter valued at approximately $40,120,000. Machina Capital S.A.S. lifted its position in EMCOR Group by 116.4% during the 3rd quarter. Machina Capital S.A.S. now owns 4,128 shares of the construction company’s stock worth $3,115,000 after acquiring an additional 2,220 shares during the period. Northbridge Financial Group LLC acquired a new stake in EMCOR Group during the 3rd quarter worth approximately $230,000. Knights of Columbus Asset Advisors LLC grew its stake in shares of EMCOR Group by 0.4% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 9,314 shares of the construction company’s stock valued at $7,027,000 after purchasing an additional 40 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in shares of EMCOR Group by 128.1% in the 3rd quarter. Lido Advisors LLC now owns 2,883 shares of the construction company’s stock valued at $2,175,000 after purchasing an additional 1,619 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group dropped their target price on EMCOR Group from $1,065.00 to $925.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. DA Davidson set a $1,047.00 price objective on shares of EMCOR Group in a research report on Monday, August 10th. Oppenheimer dropped their price objective on shares of EMCOR Group from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research note on Monday, November 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of EMCOR Group from $885.00 to $795.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 20th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $902.88.

EMCOR Group Stock Up 3.3%

Shares of NYSE:EME opened at $666.66 on Thursday. EMCOR Group, Inc. has a 52 week low of $564.92 and a 52 week high of $951.96. The company has a 50-day moving average price of $725.87 and a 200 day moving average price of $777.99. The company has a market cap of $29.19 billion, a P/E ratio of 19.26 and a beta of 1.16.

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

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s payout ratio is 4.62%.

EMCOR Group declared that its board has initiated a stock buyback program on Thursday, October 29th that allows the company to repurchase $500 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.7% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

EMCOR Group Company 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.