State of New Jersey Common Pension Fund D Sells 422 Shares of EMCOR Group, Inc. (NYSE:EME)

State of New Jersey Common Pension Fund D lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,554 shares of the construction company’s stock after selling 422 shares during the period. State of New Jersey Common Pension Fund D’s holdings in EMCOR Group were worth $7,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its position in shares of EMCOR Group by 3,466.7% during the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of EMCOR Group during the third quarter worth about $49,000. SJS Investment Consulting Inc. raised its position in shares of EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of EMCOR Group during the third quarter worth about $55,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of EMCOR Group during the third quarter worth about $62,000. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

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

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $433.64 on Wednesday. The business’s 50 day simple moving average is $469.45 and its 200 day simple moving average is $445.97. EMCOR Group, Inc. has a 52-week low of $248.31 and a 52-week high of $545.29. The firm has a market cap of $19.95 billion, a PE ratio of 22.02 and a beta of 1.11.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 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.