Inspire Investing LLC Cuts Holdings in EMCOR Group, Inc. (NYSE:EME)

Inspire Investing LLC lessened its position in shares of EMCOR Group, Inc. (NYSE:EME) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,620 shares of the construction company’s stock after selling 1,764 shares during the period. EMCOR Group makes up 0.6% of Inspire Investing LLC’s portfolio, making the stock its 22nd biggest position. Inspire Investing LLC’s holdings in EMCOR Group were worth $6,294,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. lifted its stake in shares of EMCOR Group by 1.7% during the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after purchasing an additional 11,479 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in EMCOR Group by 34.4% in the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after acquiring an additional 134,575 shares during the period. Allspring Global Investments Holdings LLC grew its position in EMCOR Group by 20.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock valued at $152,170,000 after acquiring an additional 73,975 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of EMCOR Group by 27.5% during the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company’s stock valued at $150,553,000 after purchasing an additional 88,909 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of EMCOR Group by 99.2% during the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Trading Up 1.9 %

EMCOR Group stock opened at $450.45 on Friday. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $450.55. The stock has a market cap of $21.17 billion, a P/E ratio of 29.71 and a beta of 1.07. The stock has a 50 day moving average of $393.89 and a 200-day moving average of $377.04.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 EPS. As a group, equities analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Tuesday, October 15th. EMCOR Group’s payout ratio is currently 6.60%.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. DA Davidson lifted their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

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.