Ajo LP Raises Stake in EMCOR Group, Inc. (EME)

Ajo LP grew its position in EMCOR Group, Inc. (NYSE:EME) by 45.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,046 shares of the construction company’s stock after purchasing an additional 19,659 shares during the period. Ajo LP owned approximately 0.11% of EMCOR Group worth $4,122,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of EMCOR Group by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,570,968 shares of the construction company’s stock valued at $98,893,000 after purchasing an additional 25,422 shares in the last quarter. Comerica Bank raised its holdings in EMCOR Group by 1.3% during the second quarter. Comerica Bank now owns 58,682 shares of the construction company’s stock worth $3,756,000 after acquiring an additional 725 shares in the last quarter. BB&T Securities LLC bought a new stake in EMCOR Group during the first quarter worth about $228,000. Vanguard Group Inc. raised its holdings in EMCOR Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 4,916,914 shares of the construction company’s stock worth $309,520,000 after acquiring an additional 183,084 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in EMCOR Group by 6.3% during the first quarter. Bank of America Corp DE now owns 484,259 shares of the construction company’s stock worth $30,484,000 after acquiring an additional 28,545 shares in the last quarter. Institutional investors own 93.46% of the company’s stock.

Several analysts recently issued reports on EME shares. BidaskClub lowered EMCOR Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. KeyCorp reiterated a “hold” rating on shares of EMCOR Group in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.33.

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Shares of EMCOR Group, Inc. (NYSE:EME) opened at 68.00 on Friday. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 20.38 and a beta of 0.89. EMCOR Group, Inc. has a 12-month low of $55.10 and a 12-month high of $73.44. The company’s 50-day moving average price is $65.77 and its 200 day moving average price is $64.56.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.15. EMCOR Group had a net margin of 2.63% and a return on equity of 13.19%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts predict that EMCOR Group, Inc. will post $3.57 earnings per share for the current year.

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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Institutional Ownership by Quarter for EMCOR Group (NYSE:EME)

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