Strs Ohio Sells 5,600 Shares of EMCOR Group, Inc. (NYSE:EME)

Posted by Defense World Staff on Jul 16th, 2023

Strs Ohio trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,100 shares of the construction company’s stock after selling 5,600 shares during the period. Strs Ohio owned about 0.13% of EMCOR Group worth $10,096,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Congress Asset Management Co. MA raised its stake in EMCOR Group by 1,083.3% in the 4th quarter. Congress Asset Management Co. MA now owns 719,846 shares of the construction company’s stock valued at $106,616,000 after acquiring an additional 659,012 shares during the period. Norges Bank bought a new stake in EMCOR Group in the 4th quarter valued at about $63,867,000. Assenagon Asset Management S.A. raised its stake in EMCOR Group by 236.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 383,214 shares of the construction company’s stock valued at $62,307,000 after acquiring an additional 269,253 shares during the period. Morgan Stanley raised its stake in EMCOR Group by 103.1% in the 4th quarter. Morgan Stanley now owns 521,712 shares of the construction company’s stock valued at $77,271,000 after acquiring an additional 264,826 shares during the period. Finally, Millennium Management LLC raised its stake in EMCOR Group by 126.6% in the 4th quarter. Millennium Management LLC now owns 404,335 shares of the construction company’s stock valued at $59,886,000 after acquiring an additional 225,879 shares during the period. 96.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on EMCOR Group in a report on Thursday, May 18th. They set a “strong-buy” rating for the company.

EMCOR Group Stock Up 0.0 %

EME stock opened at $187.68 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $8.92 billion, a PE ratio of 20.62 and a beta of 1.10. EMCOR Group, Inc. has a twelve month low of $100.36 and a twelve month high of $188.46. The stock has a 50-day simple moving average of $174.46 and a two-hundred day simple moving average of $161.92.

EMCOR Group (NYSE:EME – Get Free Report) last posted its earnings results on Thursday, April 27th. The construction company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.49. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.87 billion. EMCOR Group had a return on equity of 22.68% and a net margin of 3.91%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. On average, equities analysts predict that EMCOR Group, Inc. will post 9.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 20th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, July 19th. EMCOR Group’s payout ratio is 7.91%.

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 11,000 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $165.52, for a total transaction of $1,820,720.00. Following the completion of the transaction, the chief executive officer now owns 257,655 shares of the company’s stock, valued at $42,647,055.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Anthony Guzzi sold 11,000 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $165.52, for a total transaction of $1,820,720.00. Following the completion of the transaction, the chief executive officer now owns 257,655 shares of the company’s stock, valued at $42,647,055.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark A. Pompa sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $170.00, for a total value of $4,250,000.00. Following the completion of the sale, the chief financial officer now directly owns 58,758 shares of the company’s stock, valued at approximately $9,988,860. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,462 shares of company stock valued at $10,334,368. 1.60% of the stock is owned by corporate insiders.

EMCOR Group Profile

(Free Report)

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.