Fox Run Management L.L.C. acquired a new stake in shares of Emcor Group Inc (NYSE:EME) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,491 shares of the construction company’s stock, valued at approximately $776,000.
A number of other hedge funds also recently modified their holdings of the stock. Voya Investment Management LLC boosted its holdings in Emcor Group by 432.9% in the second quarter. Voya Investment Management LLC now owns 622,251 shares of the construction company’s stock worth $40,682,000 after acquiring an additional 505,481 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Emcor Group during the third quarter worth about $25,720,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Emcor Group by 80.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 818,050 shares of the construction company’s stock worth $66,863,000 after purchasing an additional 364,172 shares during the period. Prudential Financial Inc. raised its position in Emcor Group by 19.8% during the third quarter. Prudential Financial Inc. now owns 1,102,699 shares of the construction company’s stock valued at $76,506,000 after acquiring an additional 182,340 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Emcor Group by 53.9% during the second quarter. TIAA CREF Investment Management LLC now owns 385,362 shares of the construction company’s stock valued at $25,195,000 after acquiring an additional 134,957 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.
In other Emcor Group news, Director William P. Reid sold 4,647 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $82.90, for a total transaction of $385,236.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
EME has been the subject of several recent research reports. Zacks Investment Research cut Emcor Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Stifel Nicolaus restated a “buy” rating and issued a $88.00 price objective (up from $75.00) on shares of Emcor Group in a research report on Thursday, October 26th. ValuEngine cut Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, KeyCorp restated a “hold” rating on shares of Emcor Group in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $88.50.
Shares of Emcor Group Inc (EME) traded up $0.68 on Friday, hitting $75.91. The company had a trading volume of 444,984 shares, compared to its average volume of 310,939. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41. Emcor Group Inc has a 52-week low of $59.76 and a 52-week high of $85.08. The stock has a market capitalization of $4,464.57, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.25 and a beta of 0.96.
Emcor Group declared that its Board of Directors has approved a stock buyback plan on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, January 12th. Emcor Group’s dividend payout ratio (DPR) is currently 8.94%.
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Emcor Group Company 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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