New York State Teachers Retirement System lowered its stake in Emcor Group Inc. (NYSE:EME) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,577 shares of the company’s stock after selling 27,812 shares during the period. New York State Teachers Retirement System’s holdings in Emcor Group were worth $6,334,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parametrica Management Ltd purchased a new position in Emcor Group during the second quarter valued at about $326,000. LS Investment Advisors LLC increased its position in Emcor Group by 72.7% in the second quarter. LS Investment Advisors LLC now owns 3,706 shares of the company’s stock worth $183,000 after buying an additional 1,560 shares during the period. 1st Global Advisors Inc. increased its position in Emcor Group by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 5,637 shares of the company’s stock worth $278,000 after buying an additional 32 shares during the period. Palo Capital Inc. increased its position in Emcor Group by 107.6% in the second quarter. Palo Capital Inc. now owns 54,342 shares of the company’s stock worth $2,676,000 after buying an additional 28,172 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Emcor Group by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 48,300 shares of the company’s stock worth $2,379,000 after buying an additional 200 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.
Emcor Group Inc. (NYSE:EME) traded up 0.52% during mid-day trading on Friday, hitting $59.62. 447,761 shares of the company were exchanged. The company has a market capitalization of $3.62 billion, a P/E ratio of 20.36 and a beta of 1.15. Emcor Group Inc. has a 12-month low of $40.98 and a 12-month high of $60.33. The company’s 50-day moving average is $57.28 and its 200 day moving average is $51.15.
Emcor Group (NYSE:EME) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.24. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Emcor Group had a net margin of 2.55% and a return on equity of 12.33%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Analysts expect that Emcor Group Inc. will post $3.10 EPS for the current year.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Emcor Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Monday, August 1st. FBR & Co increased their price target on Emcor Group from $52.00 to $62.00 and gave the company a “mkt perform” rating in a research note on Tuesday, August 16th. Finally, Sidoti assumed coverage on Emcor Group in a research note on Tuesday, June 21st. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Emcor Group presently has an average rating of “Buy” and an average price target of $57.00.
In other Emcor Group news, SVP Maxine Lum Mauricio sold 1,386 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $56.35, for a total transaction of $78,101.10. Following the sale, the senior vice president now owns 15,493 shares of the company’s stock, valued at $873,030.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerry E. Ryan sold 6,202 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $55.42, for a total transaction of $343,714.84. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
Emcor Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides a number of building services and industrial services. The Company’s segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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