Optivise Advisory Services LLC bought a new position in EMCOR Group, Inc. (NYSE:EME - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 638 shares of the construction company's stock, valued at approximately $236,000.
Several other hedge funds have also recently made changes to their positions in EME. Norges Bank purchased a new position in EMCOR Group during the 4th quarter valued at about $299,855,000. GAMMA Investing LLC grew its holdings in 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 buying an additional 373,316 shares in the last quarter. Invesco Ltd. grew its holdings in EMCOR Group by 28.0% during the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after buying an additional 288,765 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in EMCOR Group by 94.2% during the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock valued at $139,349,000 after buying an additional 148,915 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock valued at $225,332,000 after buying an additional 129,186 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on EME shares. UBS Group assumed coverage on EMCOR Group in a report on Friday, June 13th. They set a "buy" rating and a $570.00 price objective for the company. Stifel Nicolaus decreased their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $509.60.
View Our Latest Stock Report on EME
EMCOR Group Stock Down 0.0%
Shares of NYSE EME traded down $0.02 during trading on Friday, reaching $485.19. The company had a trading volume of 1,452,509 shares, compared to its average volume of 454,054. 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, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The stock has a market cap of $21.72 billion, a PE ratio of 21.44 and a beta of 1.23. The business's 50-day moving average is $446.14 and its 200 day moving average is $438.70.
EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data 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 return on equity of 37.12% and a net margin of 7.00%. The company had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the firm posted $4.17 earnings per share. EMCOR Group's revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.
EMCOR Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders 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 0.21%. EMCOR Group's payout ratio is 4.42%.
EMCOR Group declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.
Insider Activity
In related news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction that occurred 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 sale, the director now owns 7,094 shares of the company's stock, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer now directly owns 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. 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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