Oppenheimer & Co. Inc. lowered its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 8.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,226 shares of the construction company's stock after selling 867 shares during the period. Oppenheimer & Co. Inc.'s holdings in EMCOR Group were worth $3,410,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in EME. Janney Montgomery Scott LLC grew its holdings in EMCOR Group by 20.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company's stock worth $7,317,000 after acquiring an additional 3,407 shares in the last quarter. Redwood Investment Management LLC acquired a new position in EMCOR Group during the 4th quarter worth approximately $1,417,000. Fifth Third Bancorp grew its holdings in EMCOR Group by 17.5% during the 1st quarter. Fifth Third Bancorp now owns 844 shares of the construction company's stock worth $312,000 after acquiring an additional 126 shares in the last quarter. Quantbot Technologies LP acquired a new position in EMCOR Group during the 4th quarter worth approximately $1,192,000. Finally, CX Institutional acquired a new position in EMCOR Group during the 1st quarter worth approximately $95,000. Institutional investors and hedge funds own 92.59% of the company's stock.
EMCOR Group Stock Performance
EME stock traded up $19.91 on Friday, hitting $530.90. The company's stock had a trading volume of 681,139 shares, compared to its average volume of 450,682. The firm has a 50 day moving average of $458.66 and a two-hundred day moving average of $439.29. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The stock has a market cap of $23.76 billion, a price-to-earnings ratio of 23.46 and a beta of 1.23. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08.
EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $4.17 EPS. EMCOR Group's revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.
EMCOR Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.19%. EMCOR Group's dividend payout ratio (DPR) is 4.42%.
Analysts Set New Price Targets
EME has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Hovde Group upgraded shares of EMCOR Group to a "hold" rating in a report on Friday. UBS Group initiated coverage on shares of EMCOR Group in a report on Friday, June 13th. They set a "buy" rating and a $570.00 price target for the company. Baird R W upgraded shares of EMCOR Group to a "strong-buy" rating in a research report on Friday. Finally, TD Securities initiated coverage on shares of EMCOR Group in a research report on Friday. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, one has issued 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $518.00.
Read Our Latest Report on EMCOR Group
Insider Activity at EMCOR Group
In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director now directly owns 7,094 shares of the company's stock, valued at approximately $2,928,616.02. The trade was a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 208,989 shares in the company, valued at $91,125,473.67. This 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 owned by insiders.
EMCOR Group Company Profile
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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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