EMCOR Group, Inc. (NYSE:EME) Stake Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 10.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in EMCOR Group by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,570,968 shares of the construction company’s stock worth $98,893,000 after buying an additional 25,422 shares during the period. Foundry Partners LLC increased its position in EMCOR Group by 3.4% in the first quarter. Foundry Partners LLC now owns 174,853 shares of the construction company’s stock worth $11,007,000 after buying an additional 5,780 shares during the period. Norges Bank bought a new position in EMCOR Group during the fourth quarter worth approximately $44,811,000. BB&T Securities LLC bought a new position in EMCOR Group during the first quarter worth approximately $228,000. Finally, Bank of America Corp DE increased its position in shares of EMCOR Group by 6.3% in the first quarter. Bank of America Corp DE now owns 484,259 shares of the construction company’s stock valued at $30,484,000 after buying an additional 28,545 shares during the last quarter. 94.16% of the stock is owned by institutional investors.

Shares of EMCOR Group, Inc. (NYSE:EME) traded down 0.51% on Friday, reaching $66.71. The company’s stock had a trading volume of 447,252 shares. EMCOR Group, Inc. has a 12 month low of $54.89 and a 12 month high of $73.44. The stock has a market cap of $3.95 billion, a P/E ratio of 20.00 and a beta of 0.89. The firm’s 50-day moving average price is $65.70 and its 200-day moving average price is $65.16.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.15. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. EMCOR Group had a return on equity of 13.19% and a net margin of 2.63%. EMCOR Group’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS. On average, analysts forecast that EMCOR Group, Inc. will post $3.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 17th were paid a $0.08 dividend. The ex-dividend date was Thursday, July 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. EMCOR Group’s dividend payout ratio (DPR) is currently 9.61%.

Several brokerages have commented on EME. Zacks Investment Research raised EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Monday, July 31st. BidaskClub downgraded EMCOR Group from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. EMCOR Group has an average rating of “Hold” and a consensus target price of $69.75.

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.