Citigroup Inc. grew its stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,335 shares of the construction company’s stock after buying an additional 241 shares during the period. Citigroup Inc.’s holdings in EMCOR Group were worth $2,981,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in EME. Zions Bancorporation N.A. purchased a new stake in EMCOR Group during the first quarter valued at about $26,000. Arlington Partners LLC purchased a new stake in shares of EMCOR Group during the 1st quarter worth about $27,000. ST Germain D J Co. Inc. purchased a new stake in shares of EMCOR Group during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust raised its holdings in EMCOR Group by 66.2% in the first quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company’s stock valued at $28,000 after buying an additional 100 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in EMCOR Group during the first quarter valued at approximately $35,000. 92.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on shares of EMCOR Group in a research report on Thursday, August 17th. They issued a “strong-buy” rating for the company.
EMCOR Group Price Performance
EME stock opened at $226.00 on Tuesday. The firm has a market cap of $10.75 billion, a P/E ratio of 22.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.26 and a current ratio of 1.29. EMCOR Group, Inc. has a 1 year low of $112.85 and a 1 year high of $227.50. The stock has a 50-day simple moving average of $204.36 and a 200-day simple moving average of $178.42.
EMCOR Group (NYSE:EME – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.58. EMCOR Group had a net margin of 4.13% and a return on equity of 24.20%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the company earned $1.99 earnings per share. EMCOR Group’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts predict that EMCOR Group, Inc. will post 11.01 earnings per share for the current fiscal year.
EMCOR Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 20th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.72 dividend on an annualized basis and a yield of 0.32%. EMCOR Group’s dividend payout ratio is currently 7.16%.
Insider Buying and Selling at EMCOR Group
In other news, CEO Anthony Guzzi sold 2,435 shares of EMCOR Group stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $185.01, for a total transaction of $450,499.35. Following the sale, the chief executive officer now directly owns 236,546 shares of the company’s stock, valued at $43,763,375.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 22,000 shares of company stock valued at $4,196,296 in the last ninety days. Insiders own 1.60% of the company’s stock.
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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