Louisiana State Employees Retirement System lowered its stake in shares of Emcor Group Inc. (NYSE:EME) by 39.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,300 shares of the company’s stock after selling 10,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Emcor Group were worth $803,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Emcor Group by 52.9% in the first quarter. BlackRock Inc. now owns 20,346 shares of the company’s stock valued at $989,000 after buying an additional 7,035 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Emcor Group by 29.7% in the first quarter. Nuveen Asset Management LLC now owns 105,925 shares of the company’s stock valued at $5,148,000 after buying an additional 24,230 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Emcor Group by 12.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,721,433 shares of the company’s stock valued at $83,662,000 after buying an additional 184,094 shares in the last quarter. Hancock Holding Co. acquired a new stake in shares of Emcor Group during the first quarter valued at $1,021,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Emcor Group by 15.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 93,091 shares of the company’s stock valued at $4,524,000 after buying an additional 12,750 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.
Emcor Group Inc. (NYSE:EME) traded down 1.50% on Friday, reaching $59.00. 456,257 shares of the company’s stock traded hands. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 20.15 and a beta of 1.10. Emcor Group Inc. has a 52 week low of $40.98 and a 52 week high of $60.56. The firm has a 50-day moving average price of $57.67 and a 200-day moving average price of $51.60.
Emcor Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.24. Emcor Group had a return on equity of 12.33% and a net margin of 2.55%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, analysts predict that Emcor Group Inc. will post $3.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Monday, October 17th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, October 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. Emcor Group’s dividend payout ratio (DPR) is 10.92%.
Several brokerages recently weighed in on EME. Zacks Investment Research cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. FBR & Co boosted their price target on shares of Emcor Group from $52.00 to $62.00 and gave the stock a “mkt perform” rating in a research report on Tuesday, August 16th. Finally, Sidoti began coverage on shares of Emcor Group in a research report on Tuesday, June 21st. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.00.
In other news, Director David A. B. Brown sold 5,851 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $55.25, for a total transaction of $323,267.75. Following the transaction, the director now owns 22,076 shares in the company, valued at approximately $1,219,699. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maxine Lum Mauricio sold 1,386 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $56.35, for a total value of $78,101.10. Following the transaction, the senior vice president now owns 15,493 shares in the company, valued at approximately $873,030.55. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
About Emcor Group
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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