Shell Asset Management Co. Sells 1,745 Shares of EMCOR Group, Inc. (EME)
Shell Asset Management Co. lowered its stake in EMCOR Group, Inc. (NYSE:EME) by 4.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,037 shares of the company’s stock after selling 1,745 shares during the period. Shell Asset Management Co. owned about 0.06% of EMCOR Group worth $2,268,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Foundry Partners LLC boosted its position in shares of EMCOR Group by 2.9% in the third quarter. Foundry Partners LLC now owns 177,868 shares of the company’s stock valued at $10,604,000 after buying an additional 4,999 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in shares of EMCOR Group during the second quarter valued at $1,593,000. Genesee Valley Trust Co. boosted its position in shares of EMCOR Group by 1.9% in the second quarter. Genesee Valley Trust Co. now owns 22,003 shares of the company’s stock valued at $1,084,000 after buying an additional 400 shares in the last quarter. First Midwest Bank Trust Division boosted its position in shares of EMCOR Group by 47.0% in the second quarter. First Midwest Bank Trust Division now owns 18,649 shares of the company’s stock valued at $919,000 after buying an additional 5,962 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of EMCOR Group by 101.7% in the third quarter. Algert Global LLC now owns 50,232 shares of the company’s stock valued at $2,995,000 after buying an additional 25,323 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.
Shares of EMCOR Group, Inc. (NYSE:EME) opened at 68.96 on Friday. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 22.12 and a beta of 0.93. The firm has a 50-day moving average price of $70.88 and a 200-day moving average price of $60.69. EMCOR Group, Inc. has a 12 month low of $40.98 and a 12 month high of $73.44.
EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 27th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.09. EMCOR Group had a net margin of 2.61% and a return on equity of 12.85%. The company earned $1.92 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities analysts expect that EMCOR Group, Inc. will post $3.20 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Tuesday, January 17th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. EMCOR Group’s dividend payout ratio is presently 10.29%.
Several research firms have recently commented on EME. Macquarie began coverage on shares of EMCOR Group in a research report on Friday. They set a “neutral” rating and a $73.00 price target on the stock. Zacks Investment Research raised shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Monday, October 31st. Finally, Stifel Nicolaus lifted their price target on shares of EMCOR Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. EMCOR Group presently has an average rating of “Hold” and an average price target of $64.60.
In other news, Director Jerry E. Ryan sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $60.00, for a total value of $360,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael T. Yonker sold 13,725 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $65.94, for a total transaction of $905,026.50. Following the completion of the sale, the director now owns 65,087 shares in the company, valued at $4,291,836.78. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
EMCOR Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides a number of building services and industrial services. The Company’s 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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