Mission Wealth Management LP raised its stake in shares of Emcor Group Inc (NYSE:EME) by 9.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,806 shares of the construction company’s stock after buying an additional 313 shares during the quarter. Mission Wealth Management LP’s holdings in Emcor Group were worth $258,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of Emcor Group by 14.0% during the 2nd quarter. IFP Advisors Inc now owns 1,616 shares of the construction company’s stock valued at $105,000 after acquiring an additional 198 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Emcor Group by 6.5% during the 2nd quarter. Fifth Third Bancorp now owns 4,297 shares of the construction company’s stock valued at $284,000 after acquiring an additional 263 shares during the last quarter. Mackay Shields LLC boosted its position in shares of Emcor Group by 0.5% during the 2nd quarter. Mackay Shields LLC now owns 60,900 shares of the construction company’s stock valued at $4,028,000 after acquiring an additional 300 shares during the last quarter. Keybank National Association OH boosted its position in shares of Emcor Group by 2.3% during the 2nd quarter. Keybank National Association OH now owns 14,571 shares of the construction company’s stock valued at $964,000 after acquiring an additional 323 shares during the last quarter. Finally, BDO Wealth Advisors LLC boosted its position in shares of Emcor Group by 988.9% during the 1st quarter. BDO Wealth Advisors LLC now owns 490 shares of the construction company’s stock valued at $30,000 after acquiring an additional 445 shares during the last quarter. 93.72% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on EME. ValuEngine downgraded Emcor Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 4th. Zacks Investment Research upgraded Emcor Group from a “hold” rating to a “strong-buy” rating and set a $69.00 target price for the company in a research report on Tuesday, July 7th. Finally, Sidoti upgraded Emcor Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $66.33.
In related news, CEO Anthony Guzzi sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $77.01, for a total value of $770,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by corporate insiders.
NYSE:EME opened at $71.29 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.48 and a quick ratio of 1.46. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 25.28 and a beta of 1.07. The business has a 50 day moving average of $70.55 and a 200 day moving average of $66.12. Emcor Group Inc has a 1-year low of $41.85 and a 1-year high of $93.54.
Emcor Group (NYSE:EME) last announced its earnings results on Monday, August 3rd. The construction company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.52. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.07 billion. Emcor Group had a return on equity of 16.17% and a net margin of 1.78%. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 earnings per share. As a group, sell-side analysts anticipate that Emcor Group Inc will post 5.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.32 annualized dividend and a yield of 0.45%. Emcor Group’s payout ratio is 5.57%.
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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