Ausbil Investment Management Ltd Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Ausbil Investment Management Ltd trimmed its stake in EMCOR Group, Inc. (NYSE:EME) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,669 shares of the construction company’s stock after selling 160 shares during the period. EMCOR Group makes up approximately 1.2% of Ausbil Investment Management Ltd’s portfolio, making the stock its 25th biggest holding. Ausbil Investment Management Ltd’s holdings in EMCOR Group were worth $4,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EME. Matrix Trust Co bought a new position in shares of EMCOR Group in the 2nd quarter worth $26,000. Proffitt & Goodson Inc. bought a new stake in EMCOR Group during the second quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in shares of EMCOR Group during the 3rd quarter valued at about $33,000. Innealta Capital LLC purchased a new stake in EMCOR Group in the second quarter worth approximately $29,000. Finally, ORG Partners LLC bought a new position in EMCOR Group during the second quarter valued at approximately $31,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

EME traded down $2.66 during trading on Thursday, hitting $442.96. 37,635 shares of the stock traded hands, compared to its average volume of 429,016. The firm has a market capitalization of $20.82 billion, a P/E ratio of 29.38 and a beta of 1.07. EMCOR Group, Inc. has a 12-month low of $191.50 and a 12-month high of $456.16. The firm has a 50-day moving average of $409.24 and a 200 day moving average of $382.48.

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

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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 report on Friday, July 26th. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the sale, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.26% 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.