Teachers Retirement System of The State of Kentucky cut its stake in EMCOR Group, Inc. (NYSE:EME) by 10.8% during the first quarter, Holdings Channel reports. The firm owned 15,440 shares of the construction company’s stock after selling 1,860 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in EMCOR Group were worth $972,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in EMCOR Group during the fourth quarter valued at approximately $44,811,000. USA Financial Portformulas Corp bought a new stake in EMCOR Group during the fourth quarter valued at approximately $242,000. Teachers Advisors LLC boosted its stake in EMCOR Group by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 498,945 shares of the construction company’s stock valued at $35,305,000 after buying an additional 5,300 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in EMCOR Group during the fourth quarter valued at approximately $875,000. Finally, Foundry Partners LLC boosted its stake in EMCOR Group by 3.4% in the first quarter. Foundry Partners LLC now owns 174,853 shares of the construction company’s stock valued at $11,007,000 after buying an additional 5,780 shares in the last quarter. 93.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of EMCOR Group, Inc. (EME) opened at 64.77 on Wednesday. EMCOR Group, Inc. has a 1-year low of $50.34 and a 1-year high of $73.44. The firm has a 50-day moving average of $65.26 and a 200-day moving average of $65.37. The firm has a market capitalization of $3.84 billion, a PE ratio of 19.74 and a beta of 0.88.
EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, April 27th. The construction company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.20. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.79 billion. EMCOR Group had a net margin of 2.60% and a return on equity of 13.37%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. On average, equities research analysts anticipate that EMCOR Group, Inc. will post $3.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Monday, July 17th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, July 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. EMCOR Group’s dividend payout ratio is currently 9.76%.
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Several analysts recently commented on the stock. BidaskClub cut shares of EMCOR Group from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded shares of EMCOR Group from a “sell” rating to a “hold” rating and set a $74.00 price target for the company in a report on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. EMCOR Group has a consensus rating of “Hold” and an average target price of $69.25.
About EMCOR Group
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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