Corbyn Investment Management Inc. MD reduced its position in shares of Emcor Group Inc (NYSE:EME) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 197,809 shares of the construction company’s stock after selling 7,181 shares during the quarter. Emcor Group accounts for approximately 5.4% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 3rd biggest position. Corbyn Investment Management Inc. MD owned about 0.34% of Emcor Group worth $16,171,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Stifel Financial Corp grew its stake in shares of Emcor Group by 0.4% during the 2nd quarter. Stifel Financial Corp now owns 20,550 shares of the construction company’s stock valued at $1,344,000 after purchasing an additional 77 shares during the period. Numeric Investors LLC grew its stake in shares of Emcor Group by 3.1% during the 2nd quarter. Numeric Investors LLC now owns 13,100 shares of the construction company’s stock valued at $856,000 after acquiring an additional 400 shares during the period. Comerica Bank grew its stake in shares of Emcor Group by 1.3% during the 4th quarter. Comerica Bank now owns 61,846 shares of the construction company’s stock valued at $5,107,000 after acquiring an additional 779 shares during the period. Aperio Group LLC grew its stake in shares of Emcor Group by 3.4% during the 3rd quarter. Aperio Group LLC now owns 27,329 shares of the construction company’s stock valued at $1,896,000 after acquiring an additional 899 shares during the period. Finally, ETRADE Capital Management LLC grew its stake in shares of Emcor Group by 12.1% during the 3rd quarter. ETRADE Capital Management LLC now owns 8,361 shares of the construction company’s stock valued at $580,000 after acquiring an additional 901 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.
Shares of Emcor Group Inc (EME) traded up $0.20 during trading hours on Wednesday, hitting $75.64. The company had a trading volume of 20,199 shares, compared to its average volume of 336,753. 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 52 week low of $59.76 and a 52 week high of $85.08. The company has a market cap of $4,424.56, a P/E ratio of 20.67, a PEG ratio of 1.24 and a beta of 0.96.
Emcor Group declared that its board has approved a share buyback program on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were issued a $0.08 dividend. The ex-dividend date was Friday, January 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Emcor Group’s dividend payout ratio is presently 8.94%.
In related news, Director William P. Reid sold 4,647 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.
EME has been the subject of a number of recent research reports. Zacks Investment Research downgraded Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $88.00 price objective (up from $75.00) on shares of Emcor Group in a research note on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Emcor Group in a research note on Friday, November 17th. Finally, ValuEngine downgraded Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $88.50.
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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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