Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Emcor Group Inc (NYSE:EME) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,357 shares of the construction company’s stock, valued at approximately $1,153,000.
Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of Emcor Group during the 2nd quarter worth approximately $203,000. Cubist Systematic Strategies LLC raised its stake 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 worth $274,000 after buying an additional 2,522 shares during the period. Itau Unibanco Holding S.A. raised its stake 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 worth $299,000 after buying an additional 3,723 shares during the period. Virtu Financial LLC acquired a new position in shares of Emcor Group during the 3rd quarter worth approximately $297,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Emcor Group during the 2nd quarter worth approximately $338,000. 93.05% of the stock is owned by institutional investors and hedge funds.
In related news, Director William P. Reid sold 1,900 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $71.69, for a total value of $136,211.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry E. Ryan sold 12,000 shares of the stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $65.76, for a total value of $789,120.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Emcor Group from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Monday, October 1st. DA Davidson raised Emcor Group from a “neutral” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Thursday, October 25th. They noted that the move was a valuation call. Maxim Group assumed coverage on Emcor Group in a research note on Thursday. They issued a “hold” rating and a $68.00 price objective for the company. Finally, ValuEngine downgraded Emcor Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $80.50.
NYSE EME opened at $63.51 on Friday. Emcor Group Inc has a one year low of $63.24 and a one year high of $85.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.44. The firm has a market capitalization of $3.66 billion, a P/E ratio of 15.64, a PEG ratio of 0.87 and a beta of 0.97.
Emcor Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 25th. The construction company reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.12. Emcor Group had a return on equity of 15.96% and a net margin of 3.27%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.95 billion. On average, sell-side analysts forecast that Emcor Group Inc will post 4.87 earnings per share for the current year.
Emcor Group announced that its Board of Directors has initiated a share repurchase program on Thursday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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Emcor Group 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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