Clark Estates Inc. NY lessened its stake in shares of Emcor Group Inc (NYSE:EME) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,200 shares of the construction company’s stock after selling 10,000 shares during the quarter. Clark Estates Inc. NY’s holdings in Emcor Group were worth $3,859,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of EME. Voya Investment Management LLC grew its stake in shares of Emcor Group by 432.9% during the second quarter. Voya Investment Management LLC now owns 622,251 shares of the construction company’s stock worth $40,682,000 after buying an additional 505,481 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Emcor Group during the third quarter worth $25,720,000. Schwab Charles Investment Management Inc. grew its stake in shares of Emcor Group by 80.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 818,050 shares of the construction company’s stock worth $66,863,000 after buying an additional 364,172 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Emcor Group by 19.8% during the third quarter. Prudential Financial Inc. now owns 1,102,699 shares of the construction company’s stock worth $76,506,000 after buying an additional 182,340 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Emcor Group by 53.9% during the second quarter. TIAA CREF Investment Management LLC now owns 385,362 shares of the construction company’s stock worth $25,195,000 after buying an additional 134,957 shares during the last quarter. 94.26% of the stock is currently owned by hedge funds and other institutional investors.
EME has been the topic of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $88.00 price objective (up previously from $75.00) on shares of Emcor Group in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. KeyCorp reissued a “hold” rating on shares of Emcor Group in a research note on Friday, November 17th. Finally, ValuEngine cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $88.50.
Emcor Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.27. Emcor Group had a net margin of 2.82% and a return on equity of 13.94%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Emcor Group’s revenue for the quarter was down 2.9% on a year-over-year basis. equities research analysts anticipate that Emcor Group Inc will post 3.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th will be paid a $0.08 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. Emcor Group’s dividend payout ratio is 8.94%.
Emcor Group declared that its board has initiated a stock repurchase plan on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Jerry E. Ryan sold 13,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William P. Reid sold 4,647 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total transaction of $385,236.30. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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Emcor Group Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its 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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