King Luther Capital Management Corp lowered its stake in Emcor Group Inc (NYSE:EME) by 24.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 52,286 shares of the construction company’s stock after selling 16,775 shares during the quarter. King Luther Capital Management Corp owned 0.09% of Emcor Group worth $3,628,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in Emcor Group in the first quarter worth $1,574,000. Capstone Asset Management Co. grew its stake in Emcor Group by 8.0% in the second quarter. Capstone Asset Management Co. now owns 4,702 shares of the construction company’s stock worth $307,000 after purchasing an additional 350 shares during the period. Aperio Group LLC grew its stake in Emcor Group by 14.6% in the second quarter. Aperio Group LLC now owns 26,430 shares of the construction company’s stock worth $1,728,000 after purchasing an additional 3,362 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Emcor Group by 7.5% in the second quarter. Russell Investments Group Ltd. now owns 171,090 shares of the construction company’s stock worth $11,187,000 after acquiring an additional 11,886 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of Emcor Group by 44.5% in the second quarter. Strs Ohio now owns 25,000 shares of the construction company’s stock worth $1,634,000 after acquiring an additional 7,700 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.
Emcor Group Inc (NYSE EME) traded up $1.46 during midday trading on Friday, reaching $81.09. The company’s stock had a trading volume of 828,170 shares, compared to its average volume of 347,788. The stock has a market cap of $4,769.23, a PE ratio of 22.28, a PEG ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41. Emcor Group Inc has a fifty-two week low of $59.76 and a fifty-two week high of $82.03.
Emcor Group (NYSE:EME) last announced its earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.27. Emcor Group had a return on equity of 13.94% and a net margin of 2.82%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. equities analysts predict that Emcor Group Inc will post 3.79 EPS for the current fiscal year.
Emcor Group announced that its Board of Directors has authorized a share buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the construction company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
EME has been the topic of a number of recent research reports. Zacks Investment Research cut Emcor Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. ValuEngine downgraded Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. BidaskClub downgraded Emcor Group from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. KeyCorp reissued a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $88.00 target price (up previously from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $83.33.
In related news, Director Jerry E. Ryan sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $78.06, for a total transaction of $1,014,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.
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Emcor Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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