The Manufacturers Life Insurance Company Cuts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

The Manufacturers Life Insurance Company lowered its position in EMCOR Group, Inc. (NYSE:EME) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,016 shares of the construction company’s stock after selling 23,769 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.23% of EMCOR Group worth $46,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after buying an additional 134,575 shares in the last quarter. AQR Capital Management LLC boosted its stake in EMCOR Group by 27.5% in the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock worth $150,553,000 after buying an additional 88,909 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in EMCOR Group by 4.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 354,045 shares of the construction company’s stock worth $152,427,000 after buying an additional 14,447 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in EMCOR Group by 3.8% in the third quarter. TimesSquare Capital Management LLC now owns 265,485 shares of the construction company’s stock worth $114,299,000 after buying an additional 9,755 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after buying an additional 116,300 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EME stock opened at $507.95 on Friday. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $532.38. The stock has a 50 day moving average price of $464.81 and a two-hundred day moving average price of $406.25. The company has a market capitalization of $23.37 billion, a P/E ratio of 25.80 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 earnings per share. As a group, equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. EMCOR Group’s dividend payout ratio is presently 5.08%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EME. The Goldman Sachs Group began coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. Northcoast Research assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective for the company. Stifel Nicolaus assumed coverage on EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.75.

EMCOR Group 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.