Metropolitan Life Insurance Co NY lowered its position in Emcor Group Inc (NYSE:EME) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,179 shares of the construction company’s stock after selling 370 shares during the quarter. Metropolitan Life Insurance Co NY owned 0.06% of Emcor Group worth $2,771,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of EME. Commonwealth Bank of Australia raised its holdings in shares of Emcor Group by 46.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 10,700 shares of the construction company’s stock worth $942,000 after purchasing an additional 3,400 shares during the period. State of Tennessee Treasury Department increased its position in Emcor Group by 4.4% during the 3rd quarter. State of Tennessee Treasury Department now owns 28,608 shares of the construction company’s stock worth $2,464,000 after purchasing an additional 1,200 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Emcor Group by 5.1% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,364 shares of the construction company’s stock valued at $376,000 after buying an additional 212 shares during the period. Pacer Advisors Inc. purchased a new position in Emcor Group in the second quarter valued at approximately $1,963,000. Finally, Hikari Power Ltd purchased a new position in Emcor Group in the second quarter valued at approximately $226,000. 91.41% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Anthony Guzzi sold 5,000 shares of Emcor Group stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $89.04, for a total transaction of $445,200.00. Following the sale, the chief executive officer now owns 354,146 shares in the company, valued at $31,533,159.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.
EME stock opened at $87.40 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.40 and a current ratio of 1.43. Emcor Group Inc has a 1 year low of $57.29 and a 1 year high of $93.54. The firm has a market cap of $4.99 billion, a P/E ratio of 17.80 and a beta of 1.10. The stock has a 50-day simple moving average of $89.39 and a 200-day simple moving average of $85.67.
Emcor Group (NYSE:EME) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.41 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.17 billion. Emcor Group had a return on equity of 17.11% and a net margin of 3.51%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the business posted $1.36 EPS. On average, equities research analysts predict that Emcor Group Inc will post 5.72 EPS for the current year.
Several equities research analysts have recently issued reports on EME shares. DA Davidson increased their price objective on shares of Emcor Group to $107.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. ValuEngine lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Maxim Group reaffirmed a “hold” rating and set a $95.00 price target on shares of Emcor Group in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $98.50.
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 and food processing, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, controls and filtration, central plant heating and cooling, plumbing, process, and piping systems; roadway and transit lighting, and fiber-optic lines; and heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems, as well as offers crane, rigging, and millwright; and steel fabrication, erection, and welding services.
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