Bessemer Group Inc. grew its stake in EMCOR Group, Inc. (NYSE:EME) by 36.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,100 shares of the construction company’s stock after purchasing an additional 8,300 shares during the quarter. Bessemer Group Inc. owned about 0.05% of EMCOR Group worth $2,158,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bruderman Asset Management LLC bought a new position in EMCOR Group in the 2nd quarter worth $118,000. Bronfman E.L. Rothschild L.P. raised its holdings in EMCOR Group by 4.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,897 shares of the construction company’s stock worth $124,000 after purchasing an additional 76 shares in the last quarter. Global X Management Co. LLC raised its holdings in EMCOR Group by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,920 shares of the construction company’s stock worth $126,000 after purchasing an additional 1,320 shares in the last quarter. Advisor Group Inc. raised its holdings in EMCOR Group by 73.1% in the 2nd quarter. Advisor Group Inc. now owns 2,269 shares of the construction company’s stock worth $147,000 after purchasing an additional 958 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in EMCOR Group by 8.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the construction company’s stock worth $155,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.
Several research analysts have commented on EME shares. BidaskClub lowered shares of EMCOR Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of EMCOR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. ValuEngine lowered shares of EMCOR Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 price target (up from $75.00) on shares of EMCOR Group in a research note on Wednesday, November 1st. Finally, KeyCorp reiterated 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, four have given a hold rating and two have given a buy rating to the company’s stock. EMCOR Group has a consensus rating of “Hold” and a consensus target price of $83.33.
EMCOR Group, Inc. (EME) opened at $78.90 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41. The stock has a market cap of $4,648.64, a PE ratio of 21.71, a P/E/G ratio of 1.39 and a beta of 1.02. EMCOR Group, Inc. has a 12 month low of $59.76 and a 12 month high of $81.77.
EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.27. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.93 billion. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. EMCOR Group’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. analysts anticipate that EMCOR Group, Inc. will post 3.79 earnings per share for the current year.
EMCOR Group announced that its Board of Directors has approved a stock buyback plan on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Tuesday, October 17th were paid a $0.08 dividend. The ex-dividend date was Monday, October 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. EMCOR Group’s payout ratio is 8.94%.
In related news, Director Jerry E. Ryan sold 13,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.
EMCOR Group Profile
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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