Smith Group Asset Management LLC lifted its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 369.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,960 shares of the construction company's stock after acquiring an additional 2,330 shares during the quarter. Smith Group Asset Management LLC's holdings in EMCOR Group were worth $1,094,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock worth $598,465,000 after purchasing an additional 288,765 shares during the period. Select Equity Group L.P. increased its position in shares of EMCOR Group by 1.6% in the fourth quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after buying an additional 16,563 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of EMCOR Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock worth $463,320,000 after buying an additional 25,502 shares during the period. Norges Bank purchased a new position in shares of EMCOR Group during the 4th quarter valued at approximately $299,855,000. Finally, Northern Trust Corp grew its stake in EMCOR Group by 22.9% in the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock valued at $250,046,000 after acquiring an additional 102,738 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.
EMCOR Group Price Performance
EME traded up $4.84 during trading on Friday, reaching $546.64. The company's stock had a trading volume of 302,472 shares, compared to its average volume of 449,861. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 24.16 and a beta of 1.24. The firm has a fifty day simple moving average of $474.05 and a two-hundred day simple moving average of $441.65. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $550.18. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08.
EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.17 earnings per share. As a group, analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.
EMCOR Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. EMCOR Group's payout ratio is 4.42%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. William Blair began coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set an "outperform" rating for the company. Baird R W raised shares of EMCOR Group to a "strong-buy" rating in a research note on Friday, June 27th. UBS Group assumed coverage on EMCOR Group in a report on Friday, June 13th. They issued a "buy" rating and a $570.00 price objective on the stock. Finally, Hovde Group raised EMCOR Group to a "hold" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $518.00.
Get Our Latest Stock Report on EMCOR Group
Insider Transactions at EMCOR Group
In other news, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the sale, the chief executive officer owned 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the sale, the director directly owned 7,094 shares in the company, valued at approximately $2,928,616.02. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company's stock.
About EMCOR Group
(
Free Report)
EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.
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