Royce & Associates LP Sells 68,824 Shares of Emcor Group Inc (EME)
Royce & Associates LP decreased its holdings in shares of Emcor Group Inc (NYSE:EME) by 17.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,644 shares of the construction company’s stock after selling 68,824 shares during the period. Royce & Associates LP owned about 0.56% of Emcor Group worth $22,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of EME. Voya Investment Management LLC grew its position in shares of Emcor Group by 432.9% during the 2nd quarter. Voya Investment Management LLC now owns 622,251 shares of the construction company’s stock valued at $40,682,000 after acquiring an additional 505,481 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Emcor Group by 75.3% in the 2nd quarter. TimesSquare Capital Management LLC now owns 882,209 shares of the construction company’s stock worth $57,679,000 after buying an additional 378,815 shares during the period. Allianz Asset Management GmbH bought a new position in Emcor Group in the 3rd quarter worth $25,720,000. Prudential Financial Inc. boosted its holdings in Emcor Group by 19.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,102,699 shares of the construction company’s stock worth $76,506,000 after buying an additional 182,340 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its holdings in Emcor Group by 53.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 385,362 shares of the construction company’s stock worth $25,195,000 after buying an additional 134,957 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.
In other Emcor Group news, Director Jerry E. Ryan sold 13,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.
EME has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 target price (up previously from $75.00) on shares of Emcor Group in a 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 target price for the company in a report on Tuesday, October 31st. KeyCorp reaffirmed a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. ValuEngine downgraded shares of Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, BidaskClub downgraded shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Emcor Group has an average rating of “Hold” and an average price target of $83.33.
Emcor Group Inc (NYSE EME) opened at $81.12 on Friday. The firm has a market cap of $4,770.99, a price-to-earnings ratio of 22.29, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Emcor Group Inc has a 1-year low of $59.76 and a 1-year high of $81.88.
Emcor Group (NYSE:EME) last issued its earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.27. Emcor Group had a net margin of 2.82% and a return on equity of 13.94%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. Emcor Group’s quarterly revenue was down 2.9% compared to the same quarter last year. analysts expect that Emcor Group Inc will post 3.79 earnings per share for the current fiscal year.
Emcor Group declared that its board has approved a stock repurchase plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
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Emcor Group Company 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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