Short Interest in EMCOR Group, Inc. (NYSE:EME) Declines By 6.7%

EMCOR Group, Inc. (NYSE:EME) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 693,400 shares, a decline of 6.7% from the September 30th total of 742,800 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 363,500 shares, the short-interest ratio is currently 1.9 days.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $431.77 on Thursday. The firm has a fifty day moving average of $414.61 and a two-hundred day moving average of $385.00. The stock has a market capitalization of $20.29 billion, a price-to-earnings ratio of 28.48 and a beta of 1.07. EMCOR Group has a 52 week low of $204.11 and a 52 week high of $456.16.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is 6.60%.

Wall Street Analysts Forecast Growth

EME has been the subject of several research analyst reports. DA Davidson boosted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th.

Institutional Trading of EMCOR Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Matrix Trust Co bought a new stake in shares of EMCOR Group during the 2nd quarter valued at $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group in the 2nd quarter valued at $27,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group in the 2nd quarter valued at $29,000. ORG Partners LLC bought a new stake in shares of EMCOR Group in the 2nd quarter valued at $31,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of EMCOR Group in the 3rd quarter valued at $33,000. Institutional investors own 92.59% of the company’s stock.

About EMCOR Group

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.