Short Interest in EMCOR Group, Inc. (NYSE:EME) Drops By 6.7%

EMCOR Group, Inc. (NYSE:EME) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 693,400 shares, a decline of 6.7% from the September 30th total of 742,800 shares. Based on an average trading volume of 363,500 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.5% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EME shares. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. DA Davidson upped their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Institutional Investors Weigh In On EMCOR Group

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

EMCOR Group Trading Up 2.3 %

EMCOR Group stock traded up $10.23 during trading on Friday, hitting $456.30. The company had a trading volume of 128,543 shares, compared to its average volume of 428,627. The company’s 50 day simple moving average is $417.23 and its 200-day simple moving average is $385.75. EMCOR Group has a 1-year low of $206.37 and a 1-year high of $461.87. The stock has a market cap of $21.29 billion, a price-to-earnings ratio of 25.54 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.82. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.77 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.61 EPS. As a group, analysts forecast that EMCOR Group will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.00 annualized dividend and a yield of 0.22%. EMCOR Group’s payout ratio is 5.73%.

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.