Geneva Partners LLC acquired a new stake in Emcor Group Inc (NYSE:EME) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,835 shares of the construction company’s stock, valued at approximately $1,622,000. Emcor Group comprises about 1.2% of Geneva Partners LLC’s portfolio, making the stock its 28th biggest holding.
A number of other large investors have also recently made changes to their positions in EME. Advisor Group Inc. increased its stake in Emcor Group by 73.1% in the second quarter. Advisor Group Inc. now owns 2,269 shares of the construction company’s stock valued at $147,000 after acquiring an additional 958 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Emcor Group by 365.2% in the third quarter. Meeder Asset Management Inc. now owns 2,740 shares of the construction company’s stock valued at $190,000 after acquiring an additional 2,151 shares during the last quarter. Magnetar Financial LLC bought a new position in Emcor Group in the third quarter valued at approximately $204,000. Chevy Chase Trust Holdings Inc. bought a new position in Emcor Group in the fourth quarter valued at approximately $212,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Emcor Group in the third quarter valued at approximately $245,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on EME shares. Zacks Investment Research cut shares of Emcor Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Stifel Nicolaus reissued a “buy” rating and issued a $88.00 price objective (up from $75.00) on shares of Emcor Group in a research note on Thursday, October 26th. ValuEngine cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, KeyCorp reissued a “hold” rating on shares of Emcor Group in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $88.50.
In other Emcor Group news, Director William P. Reid sold 4,647 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total transaction of $385,236.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
Shares of Emcor Group Inc (EME) opened at $76.32 on Thursday. The firm has a market cap of $4,436.91, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.25 and a beta of 0.96. Emcor Group Inc has a one year low of $59.76 and a one year high of $85.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.44.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Emcor Group’s payout ratio is presently 8.94%.
Emcor Group announced that its board has authorized a share repurchase program on Thursday, October 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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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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