First Trust Advisors LP increased its stake in shares of Emcor Group Inc (NYSE:EME) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 164,859 shares of the construction company’s stock after acquiring an additional 7,014 shares during the period. First Trust Advisors LP’s holdings in Emcor Group were worth $13,477,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Allianz Asset Management GmbH purchased a new position in shares of Emcor Group during the third quarter worth about $25,720,000. Schwab Charles Investment Management Inc. grew its holdings 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 holdings 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. Assenagon Asset Management S.A. boosted its holdings in Emcor Group by 368.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 215,939 shares of the construction company’s stock valued at $17,653,000 after purchasing an additional 169,890 shares in the last quarter. Finally, Boston Advisors LLC boosted its holdings in Emcor Group by 210.9% in the 4th quarter. Boston Advisors LLC now owns 233,324 shares of the construction company’s stock valued at $19,074,000 after purchasing an additional 158,288 shares in the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Emcor Group Inc (NYSE:EME) opened at $77.05 on Wednesday. Emcor Group Inc has a 12 month low of $59.76 and a 12 month high of $85.08. The stock has a market cap of $4,521.01, a price-to-earnings ratio of 20.17, a PEG ratio of 1.20 and a beta of 0.96. The company has a current ratio of 1.38, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were given a dividend of $0.08 per share. The ex-dividend date was Friday, January 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Emcor Group’s dividend payout ratio (DPR) is 8.38%.
In related news, Director William P. Reid sold 4,647 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on EME. Zacks Investment Research lowered Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 price objective (up previously from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. ValuEngine downgraded shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. KeyCorp reiterated a “hold” rating on shares of Emcor Group in a research report on Friday, November 17th. Finally, DA Davidson restated a “neutral” rating on shares of Emcor Group in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.00.
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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