Fullcircle Wealth LLC acquired a new stake in EMCOR Group, Inc. (NYSE:EME - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 605 shares of the construction company's stock, valued at approximately $248,000.
Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of EMCOR Group in the fourth quarter worth $299,855,000. GAMMA Investing LLC grew its position in shares of EMCOR Group by 49,775.5% during the 1st quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company's stock valued at $138,266,000 after acquiring an additional 373,316 shares during the period. Invesco Ltd. increased its stake in shares of 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in EMCOR Group by 94.2% in the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock worth $139,349,000 after purchasing an additional 148,915 shares during the period. Finally, First Trust Advisors LP increased its position in EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock worth $225,332,000 after buying an additional 129,186 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
EMCOR Group Trading Up 1.5%
EME stock traded up $8.21 during mid-day trading on Friday, reaching $555.80. 44,860 shares of the stock traded hands, compared to its average volume of 449,384. The stock has a market capitalization of $24.88 billion, a PE ratio of 24.56 and a beta of 1.24. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $556.27. The business has a 50-day moving average price of $485.08 and a two-hundred day moving average price of $443.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.14 and a current ratio of 1.16.
EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business earned $4.17 earnings per share. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.
EMCOR Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.18%. EMCOR Group's payout ratio is 4.42%.
Insiders Place Their Bets
In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the sale, the director owned 7,094 shares in the company, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer owned 208,989 shares of the company's stock, valued at $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on EME shares. UBS Group began coverage on shares of EMCOR Group in a research report on Friday, June 13th. They issued a "buy" rating and a $570.00 price target for the company. William Blair started coverage on EMCOR Group in a report on Friday, June 27th. They issued an "outperform" rating on the stock. TD Securities started coverage on shares of EMCOR Group in a report on Friday, June 27th. They set a "buy" rating for the company. The Goldman Sachs Group boosted their target price on shares of EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of EMCOR Group in a report on Friday, June 27th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $532.00.
Get Our Latest Stock Analysis on EMCOR Group
EMCOR Group Company Profile
(
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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