Fmr LLC Sells 745,007 Shares of EMCOR Group, Inc. (EME)
Fmr LLC lowered its stake in EMCOR Group, Inc. (NYSE:EME) by 18.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,226,343 shares of the construction company’s stock after selling 745,007 shares during the period. Fmr LLC owned 5.38% of EMCOR Group worth $203,099,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of EME. Victory Capital Management Inc. increased its stake in shares of EMCOR Group by 6.3% in the first quarter. Victory Capital Management Inc. now owns 2,121,530 shares of the construction company’s stock valued at $133,550,000 after buying an additional 126,502 shares in the last quarter. State Street Corp increased its stake in shares of EMCOR Group by 0.6% in the fourth quarter. State Street Corp now owns 1,994,474 shares of the construction company’s stock valued at $141,128,000 after buying an additional 11,494 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of EMCOR Group by 7.2% in the first quarter. JPMorgan Chase & Co. now owns 1,364,638 shares of the construction company’s stock valued at $85,904,000 after buying an additional 92,203 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of EMCOR Group by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 1,197,774 shares of the construction company’s stock valued at $75,399,000 after buying an additional 41,122 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of EMCOR Group during the fourth quarter valued at $44,811,000. 94.15% of the stock is owned by hedge funds and other institutional investors.
EMCOR Group, Inc. (NYSE:EME) traded up 0.05% during midday trading on Friday, reaching $65.34. The company’s stock had a trading volume of 642,718 shares. The company’s 50-day moving average price is $64.81 and its 200-day moving average price is $66.35. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 19.91 and a beta of 0.87. EMCOR Group, Inc. has a 1-year low of $45.86 and a 1-year high of $73.44.
EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, April 27th. The construction company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.20. EMCOR Group had a return on equity of 13.37% and a net margin of 2.60%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts predict that EMCOR Group, Inc. will post $3.48 earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on EME shares. Zacks Investment Research downgraded EMCOR Group from a “hold” rating to a “sell” rating in a report on Monday, February 27th. Stifel Nicolaus raised EMCOR Group from a “hold” rating to a “buy” rating and decreased their price target for the stock from $70.00 to $68.00 in a report on Friday, February 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. EMCOR Group presently has an average rating of “Hold” and a consensus target price of $69.25.
About EMCOR Group
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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