Penserra Capital Management LLC grew its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 384.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,026 shares of the construction company's stock after purchasing an additional 814 shares during the period. Penserra Capital Management LLC's holdings in EMCOR Group were worth $378,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Continuum Advisory LLC increased its holdings in shares of EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after purchasing an additional 29 shares in the last quarter. Dogwood Wealth Management LLC bought a new stake in shares of EMCOR Group in the fourth quarter worth $40,000. Summit Securities Group LLC bought a new stake in shares of EMCOR Group in the fourth quarter worth $45,000. Park Square Financial Group LLC bought a new stake in shares of EMCOR Group in the fourth quarter worth $48,000. Finally, True Wealth Design LLC grew its holdings in shares of EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after acquiring an additional 26 shares during the period. Institutional investors own 92.59% of the company's stock.
EMCOR Group Trading Up 1.3%
Shares of EME stock opened at $554.51 on Friday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $556.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14. The stock's 50 day simple moving average is $487.57 and its two-hundred day simple moving average is $444.55. The company has a market cap of $24.82 billion, a PE ratio of 24.50 and a beta of 1.24.
EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.57 by $0.84. The business 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 company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.17 earnings per share. Research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.
EMCOR Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 annualized dividend and a yield of 0.18%. EMCOR Group's dividend payout ratio (DPR) is currently 4.42%.
Analyst Ratings Changes
EME has been the subject of several research analyst reports. William Blair initiated coverage on EMCOR Group in a report on Friday, June 27th. They issued an "outperform" rating for the company. Jefferies Financial Group assumed coverage on EMCOR Group in a report on Friday, June 27th. They set a "buy" rating for the company. Robert W. Baird assumed coverage on EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating and a $560.00 price target for the company. Baird R W raised EMCOR Group to a "strong-buy" rating in a report on Friday, June 27th. Finally, Stifel Nicolaus boosted their price target on EMCOR Group from $503.00 to $597.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $532.00.
View Our Latest Research Report on EMCOR Group
Insider Activity at EMCOR Group
In related news, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director owned 7,094 shares of the company's stock, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 approximately $91,125,473.67. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate 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.
Further Reading
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