BB&T Corp decreased its holdings in Emcor Group Inc (NYSE:EME) by 15.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,625 shares of the construction company’s stock after selling 1,041 shares during the quarter. BB&T Corp’s holdings in Emcor Group were worth $460,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. raised its stake in Emcor Group by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,202,317 shares of the construction company’s stock worth $152,797,000 after purchasing an additional 82,349 shares in the last quarter. State Street Corp raised its stake in Emcor Group by 2.5% in the 2nd quarter. State Street Corp now owns 2,059,368 shares of the construction company’s stock worth $134,642,000 after purchasing an additional 50,588 shares in the last quarter. Ruane Cunniff & Goldfarb Inc. raised its stake in Emcor Group by 1.7% in the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,441,346 shares of the construction company’s stock worth $100,001,000 after purchasing an additional 23,775 shares in the last quarter. Prudential Financial Inc. raised its stake in Emcor Group by 19.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,102,699 shares of the construction company’s stock worth $76,506,000 after purchasing an additional 182,340 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Emcor Group by 6.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,068,029 shares of the construction company’s stock worth $74,100,000 after purchasing an additional 65,047 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. KeyCorp reissued a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. ValuEngine lowered shares of Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $88.00 target price (up from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.50.
Emcor Group Inc (NYSE:EME) opened at $75.44 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.44 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 $85.08. The company has a market cap of $4,424.56, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.24 and a beta of 0.96.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, January 12th. Emcor Group’s dividend payout ratio is currently 8.94%.
Emcor Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Emcor Group news, Director William P. Reid sold 4,647 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total value of $385,236.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is owned by company insiders.
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About Emcor Group
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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