Gulf International Bank UK Ltd Reduces Stake in EMCOR Group, Inc.

In the third quarter of the year, Gulf International Bank UK Ltd decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 5.6%, according to a report from Holdings Channel.com. Following the sale of 214 shares, the bank now possesses a total of 3,635 shares in the construction company. As of the latest filing with the SEC, the bank's total investment in EMCOR Group is valued at approximately $1,564,000.

Other institutional investors have also shifted their stakes in EMCOR Group recently. For instance, Montag A & Associates Inc. established a new position in the first quarter, valued around $1,772,000. Cetera Advisors LLC increased its stake by 165.3% during the same period, acquiring an additional 3,869 shares to hold 6,209 shares worth $2,174,000. Sei Investments Co. raised its shares by 3.8% in the first quarter as well, now owning 128,492 shares valued at approximately $44,996,000 after purchasing 4,647 shares. Additionally, HBK Sorce Advisory LLC bought a new position valued at about $209,000 in the first quarter. Robeco Institutional Asset Management B.V. substantially increased its stake by 173.0% in the third quarter, accumulating 54,521 shares worth $23,473,000 after adding 34,553 shares. Overall, institutional investors now hold around 92.59% of the company’s stock.

Analyst Ratings and Price Targets

EMCOR Group has been highlighted in several recent analyst reports. On October 9th, StockNews.com upgraded the company from a "buy" rating to a "strong-buy" rating. Furthermore, DA Davidson raised their price target on the shares from $410.00 to $430.00 while maintaining a "buy" rating as of July 26th.

Current Trading Information

As of Friday, shares of EMCOR Group opened at $504.48. The company has a 50-day simple moving average of $427.08 and a 200-day simple moving average of $390.62. Its market capitalization stands at $23.21 billion, with a price-to-earnings ratio of 25.62 and a beta of 1.07. Over the past year, EMCOR Group has recorded a low of $207.31 and a high of $509.46.

EMCOR Group recently reported its quarterly earnings on October 31st. The company announced earnings per share (EPS) of $5.80, surpassing the consensus estimate of $4.98 by $0.82. The quarterly revenue amounted to $3.70 billion, compared to the expected $3.77 billion. EMCOR Group's net margin was 6.51%, and it achieved a return on equity of 34.99%. The revenue growth was impressive, up 15.3% compared to the same quarter last year. Analysts predict that EMCOR Group, Inc. will record an EPS of 20.75 for the current fiscal year.

Dividend Declaration

The company also announced a recent quarterly dividend, which was paid on October 30th. Shareholders on record as of October 15th received a dividend of $0.25 per share. The ex-dividend date was also set on October 15th, representing an annualized dividend of $1.00 and a yield of 0.20%. EMCOR Group's payout ratio stands at 5.08%.

About EMCOR Group

EMCOR Group, Inc. provides various construction and facilities services in the United States and the United Kingdom. These services include the design, integration, installation, operation, and maintenance of systems related to power transmission, energy solutions, HVAC, fire protection, plumbing, and much more.

Gulf, International, Bank, EMCOR, Group