KBC Group NV Decreases Position in EMCOR Group, Inc. (NYSE:EME)

KBC Group NV lowered its position in shares of EMCOR Group, Inc. (NYSE:EME) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,158 shares of the construction company’s stock after selling 1,390 shares during the quarter. KBC Group NV’s holdings in EMCOR Group were worth $14,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in shares of EMCOR Group during the third quarter worth $1,222,000. Saturna Capital Corp boosted its position in EMCOR Group by 12.9% during the third quarter. Saturna Capital Corp now owns 960 shares of the construction company’s stock worth $413,000 after acquiring an additional 110 shares during the last quarter. Victory Capital Management Inc. grew its stake in EMCOR Group by 91.4% during the 3rd quarter. Victory Capital Management Inc. now owns 124,704 shares of the construction company’s stock valued at $53,689,000 after acquiring an additional 59,546 shares in the last quarter. Aptus Capital Advisors LLC purchased a new stake in EMCOR Group during the 3rd quarter valued at about $239,000. Finally, Cumberland Partners Ltd raised its holdings in EMCOR Group by 60.0% in the 3rd quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock valued at $1,722,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME opened at $498.74 on Friday. The company has a market cap of $22.94 billion, a P/E ratio of 25.33 and a beta of 1.07. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $525.31. The business’s 50-day simple moving average is $440.92 and its 200-day simple moving average is $396.41.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.82. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm earned $3.61 EPS. The business’s revenue was up 15.3% on a year-over-year basis. As a group, analysts predict that EMCOR Group, Inc. will post 20.75 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EME shares. DA Davidson boosted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus initiated coverage on EMCOR Group in a research note on Friday. They issued a “buy” rating and a $600.00 price objective for the company. Finally, StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

EMCOR Group Company 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.