Vanguard Group Inc. increased its stake in shares of Emcor Group Inc. (NYSE:EME) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,765,101 shares of the company’s stock after buying an additional 227,669 shares during the period. Vanguard Group Inc. owned about 7.84% of Emcor Group worth $234,729,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Hancock Holding Co. bought a new stake in shares of Emcor Group during the first quarter valued at about $1,021,000. Geode Capital Management LLC raised its stake in shares of Emcor Group by 3.2% in the first quarter. Geode Capital Management LLC now owns 410,494 shares of the company’s stock valued at $19,950,000 after buying an additional 12,683 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Emcor Group by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,620,514 shares of the company’s stock valued at $78,757,000 after buying an additional 31,285 shares during the period. Credit Agricole S A raised its stake in shares of Emcor Group by 900.0% in the first quarter. Credit Agricole S A now owns 87,900 shares of the company’s stock valued at $4,272,000 after buying an additional 79,110 shares during the period. Finally, Carnick & Kubik LLC bought a new stake in shares of Emcor Group during the first quarter valued at about $126,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.
Emcor Group Inc. (NYSE:EME) opened at 57.28 on Friday. The company has a 50-day moving average price of $57.78 and a 200-day moving average price of $51.93. The firm has a market capitalization of $3.48 billion, a P/E ratio of 19.56 and a beta of 1.10. Emcor Group Inc. has a one year low of $40.98 and a one year high of $60.56.
Emcor Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating 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 business earned $1.93 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business earned $0.74 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities research analysts anticipate 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. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. Emcor Group’s dividend payout ratio (DPR) is 10.92%.
A number of research firms recently weighed in on EME. Zacks Investment Research lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. FBR & Co upped their target price on shares of Emcor Group from $52.00 to $62.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, August 16th. Finally, Sidoti began coverage on shares of Emcor Group in a research note on Tuesday, June 21st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $57.75.
In other news, Director Jerry E. Ryan sold 6,202 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $55.42, for a total value of $343,714.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. B. Brown sold 5,851 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $55.25, for a total value of $323,267.75. Following the completion of the sale, the director now owns 22,076 shares of the company’s stock, valued at $1,219,699. The disclosure for this sale can be found here. 2.40% of the stock is owned by 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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