Engineers Gate Manager LP decreased its stake in Emcor Group Inc (NYSE:EME) by 34.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,879 shares of the construction company’s stock after selling 8,677 shares during the quarter. Engineers Gate Manager LP’s holdings in Emcor Group were worth $1,380,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Advisor Group Inc. raised its holdings in shares of Emcor Group by 73.1% during the second quarter. Advisor Group Inc. now owns 2,269 shares of the construction company’s stock valued at $147,000 after acquiring an additional 958 shares during the last quarter. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Emcor Group in the fourth quarter valued at approximately $212,000. Flinton Capital Management LLC increased its holdings in shares of Emcor Group by 61.8% in the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the construction company’s stock valued at $173,000 after purchasing an additional 1,008 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Emcor Group by 365.2% in the third quarter. Meeder Asset Management Inc. now owns 2,740 shares of the construction company’s stock valued at $190,000 after purchasing an additional 2,151 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Emcor Group in the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.
In other news, Director William P. Reid sold 4,647 shares of Emcor Group stock in a transaction dated 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 legal filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.
Several research firms recently commented on EME. Zacks Investment Research cut Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. KeyCorp reissued a “hold” rating on shares of Emcor Group in a research note on Friday, November 17th. ValuEngine lowered Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $88.00 price target (up from $75.00) on shares of Emcor Group in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $88.50.
Emcor Group Inc (NYSE EME) traded up $0.14 during trading on Friday, reaching $76.64. The company’s stock had a trading volume of 167,318 shares, compared to its average volume of 334,179. Emcor Group Inc has a one year low of $59.76 and a one year high of $85.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.44. The firm has a market capitalization of $4,499.26, a PE ratio of 21.41, a PEG ratio of 1.26 and a beta of 0.96.
Emcor Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding 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 generally a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th were paid a $0.08 dividend. 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 is presently 8.94%.
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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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