Sit Investment Associates Inc. Reduces Position in EMCOR Group, Inc. (NYSE:EME)

Sit Investment Associates Inc. decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 15.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,980 shares of the construction company’s stock after selling 2,975 shares during the quarter. Sit Investment Associates Inc.’s holdings in EMCOR Group were worth $2,953,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EME. BlackRock Inc. boosted its stake in shares of EMCOR Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 6,152,648 shares of the construction company’s stock worth $1,000,359,000 after buying an additional 47,507 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in EMCOR Group by 2.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,565,326 shares of the construction company’s stock worth $579,687,000 after purchasing an additional 82,360 shares during the last quarter. FMR LLC grew its stake in shares of EMCOR Group by 50.6% during the 1st quarter. FMR LLC now owns 2,262,285 shares of the construction company’s stock valued at $367,825,000 after purchasing an additional 760,499 shares during the period. State Street Corp lifted its stake in shares of EMCOR Group by 3.6% in the 1st quarter. State Street Corp now owns 1,744,930 shares of the construction company’s stock worth $196,531,000 after purchasing an additional 61,165 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of EMCOR Group by 562.6% in the first quarter. Envestnet Asset Management Inc. now owns 978,137 shares of the construction company’s stock worth $24,087,000 after buying an additional 830,522 shares during the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of EMCOR Group in a research report on Thursday, October 5th. They issued a “strong-buy” rating on the stock.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $214.68 on Thursday. The stock has a market cap of $10.10 billion, a PE ratio of 18.72 and a beta of 1.12. EMCOR Group, Inc. has a 1 year low of $141.89 and a 1 year high of $227.49. The firm has a fifty day moving average price of $208.66 and a 200-day moving average price of $196.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.26 and a quick ratio of 1.22.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, October 26th. The construction company reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.90. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.15 billion. EMCOR Group had a return on equity of 26.05% and a net margin of 4.53%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. Equities analysts anticipate that EMCOR Group, Inc. will post 12.42 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Monday, October 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, October 13th. EMCOR Group’s payout ratio is currently 6.28%.

EMCOR Group Company Profile

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; 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.