Fmr LLC decreased its position in shares of Emcor Group Inc (NYSE:EME) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,359,714 shares of the construction company’s stock after selling 339,154 shares during the quarter. Fmr LLC owned approximately 4.06% of Emcor Group worth $179,762,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC lifted its holdings in Emcor Group by 1.4% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 53,491 shares of the construction company’s stock worth $4,075,000 after buying an additional 760 shares during the period. Amalgamated Bank lifted its holdings in Emcor Group by 9.4% during the 2nd quarter. Amalgamated Bank now owns 9,245 shares of the construction company’s stock worth $704,000 after buying an additional 791 shares during the period. Foundry Partners LLC lifted its holdings in Emcor Group by 0.5% during the 2nd quarter. Foundry Partners LLC now owns 176,860 shares of the construction company’s stock worth $13,473,000 after buying an additional 835 shares during the period. Carnick & Kubik Group LLC lifted its holdings in Emcor Group by 3.5% during the 2nd quarter. Carnick & Kubik Group LLC now owns 29,800 shares of the construction company’s stock worth $2,270,000 after buying an additional 1,000 shares during the period. Finally, Strs Ohio lifted its holdings in Emcor Group by 4.1% during the 2nd quarter. Strs Ohio now owns 25,500 shares of the construction company’s stock worth $1,942,000 after buying an additional 1,000 shares during the period. 92.13% of the stock is currently owned by institutional investors.
In related news, Director William P. Reid sold 1,900 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $71.69, for a total value of $136,211.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Anthony Guzzi sold 23,434 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $76.55, for a total value of $1,793,872.70. The disclosure for this sale can be found here. Insiders sold a total of 42,334 shares of company stock worth $3,303,084 over the last three months. 2.20% of the stock is owned by company insiders.
Several research analysts have commented on EME shares. Zacks Investment Research raised Emcor Group from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Monday, October 1st. ValuEngine downgraded Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, DA Davidson raised Emcor Group from a “neutral” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Thursday, October 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $84.67.
Shares of NYSE:EME opened at $72.89 on Friday. The stock has a market capitalization of $4.20 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 1.46. Emcor Group Inc has a 1 year low of $63.81 and a 1 year high of $85.08.
Emcor Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 25th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.12. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.95 billion. Emcor Group had a return on equity of 15.96% and a net margin of 3.27%. On average, equities research analysts forecast that Emcor Group Inc will post 4.87 EPS for the current fiscal year.
Emcor Group announced that its Board of Directors has approved a share repurchase plan on Thursday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Monday, October 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, October 12th. Emcor Group’s dividend payout ratio is 7.88%.
About Emcor Group
EMCOR Group, Inc provides electrical and mechanical construction, and facilities services in the United States. The company designs, integrates, installs, starts-up, operates, and maintains electric power transmission and distribution systems; premises electrical and lighting systems; process instrumentation in the refining, chemical process, food process, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, and controls and filtration systems; roadway and transit lighting and fiber-optic lines; heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems; plumbing, processing, and piping systems; and central plant heating and cooling systems, as well as offers cranes and rigging, millwrighting, and steel fabrication, erection, and welding services.
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