Principal Financial Group Inc. Trims Position in EMCOR Group, Inc. (NYSE:EME)

Principal Financial Group Inc. trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 26.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 118,118 shares of the construction company’s stock after selling 42,733 shares during the quarter. Principal Financial Group Inc.’s holdings in EMCOR Group were worth $50,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in EME. World Investment Advisors LLC acquired a new position in EMCOR Group during the third quarter valued at $100,282,000. Acadian Asset Management LLC lifted its holdings in shares of EMCOR Group by 34.4% in the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after buying an additional 134,575 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after buying an additional 126,148 shares during the last quarter. Renaissance Technologies LLC grew its holdings in 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 acquiring an additional 116,300 shares during the period. Finally, AQR Capital Management LLC raised its position in 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 acquiring an additional 88,909 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $465.82 on Monday. The firm has a fifty day moving average of $481.64 and a 200 day moving average of $418.20. The firm has a market cap of $21.43 billion, a PE ratio of 23.66 and a beta of 1.09. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38.

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

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Analyst Upgrades and Downgrades

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