Emcor Group Inc (NYSE:EME) Director William P. Reid sold 1,900 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through the SEC website.
Shares of EME opened at $72.89 on Friday. The company has a market cap of $4.20 billion, a PE ratio of 15.64, a PEG ratio of 1.00 and a beta of 0.99. Emcor Group Inc has a 1 year low of $63.81 and a 1 year high of $85.08. 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 (NYSE:EME) last released its earnings results on Thursday, October 25th. The construction company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.12. The firm 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%. As a group, equities analysts forecast that Emcor Group Inc will post 4.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Monday, October 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend 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 currently 7.88%.
Emcor Group declared that its board has authorized a stock buyback plan on Thursday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several analysts have recently issued reports on EME shares. Zacks Investment Research raised Emcor Group from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Monday, October 1st. ValuEngine cut 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 price objective on the stock in a report on Thursday, October 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Emcor Group has an average rating of “Hold” and a consensus target price of $84.67.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Emcor Group during the 2nd quarter valued at approximately $203,000. Cubist Systematic Strategies LLC increased its position in shares of Emcor Group by 234.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,598 shares of the construction company’s stock valued at $274,000 after purchasing an additional 2,522 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Emcor Group by 1,843.1% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,925 shares of the construction company’s stock valued at $299,000 after purchasing an additional 3,723 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Emcor Group during the 2nd quarter valued at approximately $338,000. Finally, Jane Street Group LLC bought a new position in shares of Emcor Group during the 2nd quarter valued at approximately $356,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.
Emcor Group Company Profile
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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