Keybank National Association OH lessened its position in EMCOR Group, Inc. (NYSE:EME) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,454 shares of the construction company’s stock after selling 1,299 shares during the period. Keybank National Association OH’s holdings in EMCOR Group were worth $2,044,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Bruderman Asset Management LLC bought a new stake in EMCOR Group in the second quarter valued at approximately $118,000. Bronfman E.L. Rothschild L.P. increased its stake in EMCOR Group by 4.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,897 shares of the construction company’s stock valued at $124,000 after purchasing an additional 76 shares in the last quarter. Global X Management Co. LLC increased its stake in EMCOR Group by 220.0% in the second quarter. Global X Management Co. LLC now owns 1,920 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,320 shares in the last quarter. Advisor Group Inc. increased its stake in EMCOR Group by 73.1% in the second quarter. Advisor Group Inc. now owns 2,269 shares of the construction company’s stock valued at $147,000 after purchasing an additional 958 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in EMCOR Group by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the construction company’s stock valued at $155,000 after purchasing an additional 194 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.
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Several brokerages have commented on EME. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 target price (up previously from $75.00) on shares of EMCOR Group in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Tuesday, October 31st. BidaskClub downgraded shares of EMCOR Group from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, KeyCorp reaffirmed a “hold” rating on shares of EMCOR Group in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $83.33.
In other news, Director Jerry E. Ryan sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.
EMCOR Group, Inc. (NYSE:EME) opened at $79.04 on Friday. The firm has a market cap of $4,661.58, a P/E ratio of 21.77, a PEG ratio of 1.39 and a beta of 1.02. EMCOR Group, Inc. has a 1-year low of $59.76 and a 1-year high of $81.77. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.
EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.27. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. sell-side analysts expect that EMCOR Group, Inc. will post 3.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Tuesday, October 17th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, October 16th. EMCOR Group’s dividend payout ratio (DPR) is presently 8.94%.
EMCOR Group declared that its board has authorized a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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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