Algert Global LLC boosted its stake in Emcor Group Inc. (NYSE:EME) by 101.7% during the third quarter, Holdings Channel reports. The institutional investor owned 50,232 shares of the company’s stock after buying an additional 25,323 shares during the period. Emcor Group comprises approximately 0.9% of Algert Global LLC’s holdings, making the stock its 10th largest position. Algert Global LLC’s holdings in Emcor Group were worth $2,995,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of EME. State Street Corp boosted its position in Emcor Group by 51.8% in the second quarter. State Street Corp now owns 1,965,686 shares of the company’s stock valued at $96,827,000 after buying an additional 670,717 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in Emcor Group during the second quarter valued at $29,590,000. Hahn Capital Management LLC bought a new position in Emcor Group during the first quarter valued at $13,492,000. Vanguard Group Inc. boosted its position in Emcor Group by 5.0% in the second quarter. Vanguard Group Inc. now owns 4,765,101 shares of the company’s stock valued at $234,729,000 after buying an additional 227,669 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.
Shares of Emcor Group Inc. (NYSE:EME) opened at 57.38 on Wednesday. The stock has a market capitalization of $3.49 billion, a PE ratio of 19.60 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 stock has a 50 day moving average of $57.75 and a 200-day moving average of $51.77.
Emcor Group (NYSE:EME) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.24. Emcor Group had a net margin of 2.55% and a return on equity of 12.33%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts expect that Emcor Group Inc. will post $3.10 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Monday, October 17th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, October 13th. Emcor Group’s dividend payout ratio is currently 10.92%.
Several research firms have recently weighed in on EME. Zacks Investment Research raised shares of Emcor Group from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Monday, August 1st. FBR & Co upped their target price on shares of Emcor Group from $52.00 to $62.00 and gave the company a “mkt perform” rating in a report on Tuesday, August 16th. Finally, Sidoti started coverage on shares of Emcor Group in a report on Tuesday, June 21st. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $57.00.
In other news, SVP Maxine Lum Mauricio sold 1,386 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $56.35, for a total value of $78,101.10. Following the sale, the senior vice president now directly owns 15,493 shares in the company, valued at approximately $873,030.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry E. Ryan sold 6,202 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were 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 insiders.
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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