EMCOR Group, Inc. (EME) Shares Sold by Corbyn Investment Management Inc. MD
Corbyn Investment Management Inc. MD cut its position in EMCOR Group, Inc. (NYSE:EME) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,990 shares of the construction company’s stock after selling 9,521 shares during the quarter. EMCOR Group comprises approximately 4.5% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 4th biggest position. Corbyn Investment Management Inc. MD owned approximately 0.35% of EMCOR Group worth $14,222,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in EMCOR Group by 5.7% during the third quarter. Sei Investments Co. now owns 183,376 shares of the construction company’s stock worth $12,722,000 after purchasing an additional 9,933 shares during the period. FDx Advisors Inc. boosted its position in EMCOR Group by 7.7% during the third quarter. FDx Advisors Inc. now owns 14,194 shares of the construction company’s stock worth $985,000 after purchasing an additional 1,011 shares during the period. Bessemer Group Inc. boosted its position in EMCOR Group by 36.4% during the third quarter. Bessemer Group Inc. now owns 31,100 shares of the construction company’s stock worth $2,158,000 after purchasing an additional 8,300 shares during the period. Daiwa Securities Group Inc. boosted its position in EMCOR Group by 49.9% during the third quarter. Daiwa Securities Group Inc. now owns 60,100 shares of the construction company’s stock worth $4,170,000 after purchasing an additional 20,000 shares during the period. Finally, Train Babcock Advisors LLC boosted its position in EMCOR Group by 4.4% during the third quarter. Train Babcock Advisors LLC now owns 43,680 shares of the construction company’s stock worth $3,030,000 after purchasing an additional 1,835 shares during the period. 93.83% of the stock is owned by institutional investors and hedge funds.
Shares of EMCOR Group, Inc. (EME) traded down $0.22 during trading on Friday, hitting $79.04. 484,100 shares of the stock were exchanged, compared to its average volume of 355,930. The company has a market capitalization of $4,661.58, a PE ratio of 21.77, a PEG ratio of 1.39 and a beta of 1.02. EMCOR Group, Inc. has a 52 week low of $59.76 and a 52 week high of $81.77. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.44.
EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.27. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion. EMCOR Group had a net margin of 2.82% and a return on equity of 13.94%. EMCOR Group’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. equities analysts anticipate that EMCOR Group, Inc. will post 3.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Tuesday, October 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, October 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. EMCOR Group’s payout ratio is presently 8.94%.
EMCOR Group announced that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
A number of equities analysts have commented on EME shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price objective (up from $75.00) on shares of EMCOR Group in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Tuesday, October 31st. BidaskClub cut shares of EMCOR Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, KeyCorp reaffirmed a “hold” rating on shares of EMCOR Group in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $83.33.
In other news, Director Jerry E. Ryan sold 13,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
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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