Alps Advisors Inc. purchased a new position in Emcor Group Inc (NYSE:EME) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,631 shares of the construction company’s stock, valued at approximately $412,000.
Several other institutional investors and hedge funds also recently modified their holdings of EME. Norges Bank bought a new stake in shares of Emcor Group in the 4th quarter worth approximately $39,911,000. Fiera Capital Corp raised its holdings in Emcor Group by 28.1% in the 4th quarter. Fiera Capital Corp now owns 737,008 shares of the construction company’s stock worth $43,992,000 after acquiring an additional 161,524 shares during the last quarter. BlackRock Inc. raised its holdings in Emcor Group by 1.7% in the 4th quarter. BlackRock Inc. now owns 6,848,177 shares of the construction company’s stock worth $408,769,000 after acquiring an additional 117,137 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Emcor Group by 29.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 482,241 shares of the construction company’s stock worth $28,785,000 after acquiring an additional 108,919 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Emcor Group by 13.6% in the 4th quarter. Geode Capital Management LLC now owns 900,415 shares of the construction company’s stock worth $53,745,000 after acquiring an additional 107,927 shares during the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.
EME has been the subject of a number of recent analyst reports. Maxim Group set a $73.00 price objective on shares of Emcor Group and gave the stock a “hold” rating in a report on Friday, April 26th. ValuEngine upgraded shares of Emcor Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Zacks Investment Research upgraded shares of Emcor Group from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective for the company in a report on Thursday, May 2nd.
Emcor Group (NYSE:EME) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.23. Emcor Group had a net margin of 3.58% and a return on equity of 17.18%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts expect that Emcor Group Inc will post 5.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, April 18th were issued a $0.08 dividend. The ex-dividend date was Wednesday, April 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. Emcor Group’s payout ratio is currently 6.52%.
In other Emcor Group news, CEO Anthony Guzzi sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark A. Pompa sold 8,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $80.00, for a total transaction of $640,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,546 shares of company stock valued at $2,219,188. 1.90% of the stock is owned by company insiders.
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Emcor Group Profile
EMCOR Group, Inc provides electrical and mechanical construction, and facilities services in the United States. The company designs, integrates, installs, starts-up, operates, and maintains electric power transmission and distribution systems; premises electrical and lighting systems; process instrumentation in the refining, chemical and food processing, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, controls and filtration, central plant heating and cooling, plumbing, process, and piping systems; roadway and transit lighting, and fiber-optic lines; and heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems, as well as offers crane, rigging, and millwright; and steel fabrication, erection, and welding services.
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