Cubist Systematic Strategies LLC grew its position in shares of Emcor Group Inc (NYSE:EME) by 234.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,145 shares of the construction company’s stock after buying an additional 10,615 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Emcor Group were worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in EME. Renaissance Technologies LLC bought a new stake in Emcor Group in the first quarter worth $1,574,000. Great West Life Assurance Co. Can lifted its position in Emcor Group by 3.2% during the second quarter. Great West Life Assurance Co. Can now owns 35,424 shares of the construction company’s stock valued at $2,315,000 after purchasing an additional 1,083 shares during the period. IFP Advisors Inc raised its position in Emcor Group by 10.8% in the second quarter. IFP Advisors Inc now owns 2,546 shares of the construction company’s stock worth $166,000 after acquiring an additional 249 shares during the period. Global X Management Co. LLC raised its position in Emcor Group by 220.0% in the second quarter. Global X Management Co. LLC now owns 1,920 shares of the construction company’s stock worth $126,000 after acquiring an additional 1,320 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Emcor Group by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 25,000 shares of the construction company’s stock worth $1,635,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.
In other Emcor Group news, Director William P. Reid sold 4,647 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $82.90, for a total value of $385,236.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jerry E. Ryan sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Several research firms have recently issued reports on EME. Stifel Nicolaus restated 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. Zacks Investment Research upgraded shares of Emcor Group from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Tuesday, October 31st. KeyCorp reaffirmed a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. Finally, ValuEngine cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $83.33.
Emcor Group Inc (EME) traded up $1.48 during trading hours on Thursday, reaching $83.31. 654,109 shares of the company were exchanged, compared to its average volume of 381,289. The stock has a market cap of $4,900.00, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. Emcor Group Inc has a 1 year low of $59.76 and a 1 year high of $84.73.
Emcor Group (NYSE:EME) last announced its earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.27. Emcor Group had a net margin of 2.82% and a return on equity of 13.94%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. equities research analysts anticipate that Emcor Group Inc will post 3.79 earnings per share for the current year.
Emcor Group declared that its board has initiated a stock buyback program on Thursday, October 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, January 12th. Emcor Group’s dividend payout ratio is presently 8.84%.
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Emcor Group 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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