Pegasus Partners Ltd. trimmed its holdings in Emcor Group Inc (NYSE:EME) by 49.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,897 shares of the construction company’s stock after selling 11,663 shares during the period. Pegasus Partners Ltd.’s holdings in Emcor Group were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EME. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Emcor Group in the fourth quarter valued at approximately $25,000. Quantamental Technologies LLC acquired a new stake in shares of Emcor Group in the fourth quarter valued at approximately $167,000. Paloma Partners Management Co acquired a new stake in shares of Emcor Group in the third quarter valued at approximately $213,000. Koshinski Asset Management Inc. acquired a new stake in shares of Emcor Group in the third quarter valued at approximately $220,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Emcor Group by 20.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,558 shares of the construction company’s stock valued at $272,000 after buying an additional 787 shares in the last quarter. Institutional investors own 92.63% of the company’s stock.
EME has been the topic of a number of recent analyst reports. ValuEngine cut shares of Emcor Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. DA Davidson raised shares of Emcor Group from a “neutral” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Thursday, October 25th. They noted that the move was a valuation call. Finally, Maxim Group initiated coverage on shares of Emcor Group in a research note on Thursday, December 13th. They issued a “hold” rating and a $68.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $78.25.
Shares of NYSE:EME opened at $66.30 on Thursday. The company has a market capitalization of $3.82 billion, a P/E ratio of 16.33, a PEG ratio of 0.84 and a beta of 1.15. The company has a current ratio of 1.46, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. Emcor Group Inc has a 1 year low of $57.29 and a 1 year high of $82.04.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Friday, January 18th were paid a $0.08 dividend. The ex-dividend date was Thursday, January 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. Emcor Group’s dividend payout ratio (DPR) is 7.88%.
Emcor Group announced that its board has authorized a share repurchase program on Thursday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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Emcor Group Company Profile
EMCOR Group, Inc provides electrical and mechanical construction, and facilities services in the United States. The company designs, integrates, installs, starts-up, operates, and maintains electric power transmission and distribution systems; premises electrical and lighting systems; process instrumentation in the refining, chemical process, food process, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, and controls and filtration systems; roadway and transit lighting and fiber-optic lines; heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems; plumbing, processing, and piping systems; and central plant heating and cooling systems, as well as offers cranes and rigging, millwrighting, and steel fabrication, erection, and welding services.
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