Illinois Municipal Retirement Fund Cuts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Illinois Municipal Retirement Fund lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 48,553 shares of the construction company’s stock after selling 2,150 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in EMCOR Group were worth $22,038,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EME. True Wealth Design LLC increased its stake in EMCOR Group by 3,466.7% during the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after buying an additional 104 shares during the period. SJS Investment Consulting Inc. increased its stake in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the period. Prospera Private Wealth LLC purchased a new stake in EMCOR Group during the 3rd quarter worth $55,000. Harbor Capital Advisors Inc. purchased a new stake in EMCOR Group during the 3rd quarter worth $62,000. Finally, Rakuten Securities Inc. increased its stake in EMCOR Group by 4,025.0% during the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME opened at $390.43 on Tuesday. The company has a 50-day moving average of $463.19 and a 200-day moving average of $448.38. The company has a market capitalization of $17.96 billion, a P/E ratio of 19.83 and a beta of 1.11. EMCOR Group, Inc. has a 1-year low of $269.06 and a 1-year high of $545.29.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Northcoast Research assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of EMCOR Group in a research report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

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.