Public Employees Retirement Association of Colorado cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 30.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,932 shares of the construction company’s stock after selling 2,150 shares during the period. Public Employees Retirement Association of Colorado’s holdings in EMCOR Group were worth $802,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in shares of EMCOR Group by 3.6% in the 1st quarter. State Street Corp now owns 1,744,930 shares of the construction company’s stock worth $196,531,000 after purchasing an additional 61,165 shares during the period. Congress Asset Management Co. MA lifted its position in shares of EMCOR Group by 7.0% in the 1st quarter. Congress Asset Management Co. MA now owns 770,521 shares of the construction company’s stock worth $125,279,000 after purchasing an additional 50,675 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of EMCOR Group by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 624,020 shares of the construction company’s stock worth $70,284,000 after purchasing an additional 21,670 shares during the period. Morgan Stanley lifted its position in shares of EMCOR Group by 103.1% in the 4th quarter. Morgan Stanley now owns 521,712 shares of the construction company’s stock worth $77,271,000 after purchasing an additional 264,826 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of EMCOR Group by 0.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 481,569 shares of the construction company’s stock worth $71,325,000 after purchasing an additional 1,340 shares during the period. 96.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on shares of EMCOR Group in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock.
Insider Transactions at EMCOR Group
In related news, CEO Anthony Guzzi sold 11,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $196.37, for a total transaction of $2,160,070.00. Following the completion of the transaction, the chief executive officer now owns 224,722 shares in the company, valued at $44,128,659.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 22,000 shares of company stock worth $4,196,296 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
EMCOR Group Stock Performance
Shares of EME stock opened at $220.97 on Friday. The firm has a market capitalization of $10.51 billion, a PE ratio of 21.97 and a beta of 1.12. The firm has a fifty day simple moving average of $190.10 and a two-hundred day simple moving average of $169.88. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.11. EMCOR Group, Inc. has a 12 month low of $112.85 and a 12 month high of $222.81.
EMCOR Group (NYSE:EME – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.58. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.01 billion. EMCOR Group had a net margin of 4.13% and a return on equity of 24.20%. EMCOR Group’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.99 EPS. Analysts forecast that EMCOR Group, Inc. will post 11.07 EPS for the current fiscal year.
EMCOR Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 20th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 0.33%. EMCOR Group’s payout ratio is 7.16%.
EMCOR Group Company Profile
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.
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