Aperio Group LLC lifted its holdings in EMCOR Group, Inc. (NYSE:EME) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,329 shares of the construction company’s stock after buying an additional 899 shares during the period. Aperio Group LLC’s holdings in EMCOR Group were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in shares of EMCOR Group by 365.2% in the third quarter. Meeder Asset Management Inc. now owns 2,740 shares of the construction company’s stock worth $190,000 after buying an additional 2,151 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of EMCOR Group in the third quarter worth about $3,195,000. Mutual of America Capital Management LLC lifted its stake in shares of EMCOR Group by 20.6% in the third quarter. Mutual of America Capital Management LLC now owns 95,917 shares of the construction company’s stock worth $6,655,000 after buying an additional 16,356 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of EMCOR Group by 5.8% in the second quarter. Lord Abbett & CO. LLC now owns 284,769 shares of the construction company’s stock worth $18,618,000 after buying an additional 15,624 shares in the last quarter. Finally, Phocas Financial Corp. raised its stake in EMCOR Group by 4.8% during the second quarter. Phocas Financial Corp. now owns 124,030 shares of the construction company’s stock worth $8,109,000 after purchasing an additional 5,642 shares during the period. 94.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on EME. Zacks Investment Research raised shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 target price (up from $75.00) on shares of EMCOR Group in a research note on Thursday, October 26th. KeyCorp reaffirmed a “hold” rating on shares of EMCOR Group in a research note on Friday, August 25th. BidaskClub downgraded shares of EMCOR Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, ValuEngine downgraded shares of EMCOR Group from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.33.
EMCOR Group, Inc. (NYSE EME) opened at $78.04 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.44. EMCOR Group, Inc. has a 52 week low of $59.76 and a 52 week high of $81.77. The company has a market cap of $4,640.41, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02.
EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.27. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. EMCOR Group’s quarterly revenue was down 2.9% compared to the same quarter last year. equities analysts predict that EMCOR Group, Inc. will post 3.79 EPS for the current fiscal year.
EMCOR Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Tuesday, October 17th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, October 16th. EMCOR Group’s dividend payout ratio is presently 8.94%.
In other EMCOR Group news, Director Jerry E. Ryan sold 13,000 shares of EMCOR Group stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.
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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