PNC Financial Services Group Inc. Sells 42 Shares of EMCOR Group, Inc. (NYSE:EME)

PNC Financial Services Group Inc. reduced its holdings in EMCOR Group, Inc. (NYSE:EME) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,386 shares of the construction company’s stock after selling 42 shares during the period. PNC Financial Services Group Inc.’s holdings in EMCOR Group were worth $1,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Matrix Trust Co bought a new position in EMCOR Group during the second quarter worth $26,000. Proffitt & Goodson Inc. bought a new position in shares of EMCOR Group during the 2nd quarter worth about $27,000. Innealta Capital LLC bought a new position in shares of EMCOR Group during the 2nd quarter worth about $29,000. ORG Partners LLC acquired a new position in shares of EMCOR Group during the second quarter valued at about $31,000. Finally, ORG Wealth Partners LLC acquired a new stake in EMCOR Group during the third quarter worth about $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on EME. Stifel Nicolaus started coverage on EMCOR Group in a report on Friday, November 15th. They issued a “buy” rating and a $600.00 price target for the company. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target on the stock. Finally, Northcoast Research initiated coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $514.78 on Wednesday. The business’s fifty day moving average price is $459.16 and its two-hundred day moving average price is $403.87. EMCOR Group, Inc. has a fifty-two week low of $209.31 and a fifty-two week high of $532.38. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of 25.95 and a beta of 1.07.

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

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Tuesday, October 15th. EMCOR Group’s payout ratio is currently 5.08%.

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.