Bank of Montreal Can purchased a new position in shares of Emcor Group Inc. (NYSE:EME) during the second quarter, Holdings Channel reports. The fund purchased 80,155 shares of the company’s stock, valued at approximately $3,948,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EME. Hancock Holding Co. acquired a new position in Emcor Group during the first quarter worth about $1,021,000. Geode Capital Management LLC boosted its position in Emcor Group by 3.2% in the first quarter. Geode Capital Management LLC now owns 410,494 shares of the company’s stock worth $19,950,000 after buying an additional 12,683 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Emcor Group by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,620,514 shares of the company’s stock worth $78,757,000 after buying an additional 31,285 shares in the last quarter. Credit Agricole S A boosted its position in Emcor Group by 900.0% in the first quarter. Credit Agricole S A now owns 87,900 shares of the company’s stock worth $4,272,000 after buying an additional 79,110 shares in the last quarter. Finally, Carnick & Kubik LLC acquired a new position in Emcor Group during the first quarter worth about $126,000. 96.89% of the stock is owned by institutional investors and hedge funds.
Shares of Emcor Group Inc. (NYSE:EME) traded down 0.93% during mid-day trading on Friday, reaching $57.28. The company’s stock had a trading volume of 380,923 shares. The firm has a market cap of $3.48 billion, a PE ratio of 19.56 and a beta of 1.10. The company has a 50-day moving average of $57.78 and a 200-day moving average of $51.93. Emcor Group Inc. has a 12 month low of $40.98 and a 12 month high of $60.56.
Emcor Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the business earned $0.74 earnings per share. Emcor Group’s revenue was up 16.8% on a year-over-year basis. On average, analysts predict that Emcor Group Inc. will post $3.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Monday, October 17th will be given 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 of this dividend is Thursday, October 13th. Emcor Group’s payout ratio is currently 10.92%.
A number of research analysts recently issued reports on the company. Zacks Investment Research cut Emcor Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. FBR & Co lifted their price target on 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 began coverage on Emcor Group in a report on Tuesday, June 21st. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $57.00.
In related news, Director David A. B. Brown sold 5,851 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $55.25, for a total value of $323,267.75. Following the transaction, the director now owns 22,076 shares in the company, valued at $1,219,699. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry E. Ryan sold 6,202 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $55.42, for a total value of $343,714.84. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
Emcor Group Company Profile
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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