Texas Permanent School Fund increased its stake in shares of Emcor Group Inc (NYSE:EME) by 0.9% in the 1st quarter, Holdings Channel reports. The firm owned 38,022 shares of the construction company’s stock after purchasing an additional 355 shares during the period. Texas Permanent School Fund’s holdings in Emcor Group were worth $2,779,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Norges Bank acquired a new position in shares of Emcor Group during the 4th quarter worth about $39,911,000. Fiera Capital Corp raised its position in shares of Emcor Group by 28.1% during the 4th quarter. Fiera Capital Corp now owns 737,008 shares of the construction company’s stock worth $43,992,000 after purchasing an additional 161,524 shares during the last quarter. BlackRock Inc. raised its position in shares of Emcor Group by 1.7% during the 4th quarter. BlackRock Inc. now owns 6,848,177 shares of the construction company’s stock worth $408,769,000 after purchasing an additional 117,137 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Emcor Group by 29.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 482,241 shares of the construction company’s stock worth $28,785,000 after purchasing 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 valued at $53,745,000 after acquiring an additional 107,927 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.
EME has been the subject of a number of recent research reports. Maxim Group set a $73.00 price objective on shares of Emcor Group and gave the company 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 $75.00 price objective for the company in a report on Thursday, January 31st.
Emcor Group (NYSE:EME) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.23. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.98 billion. Emcor Group had a net margin of 3.58% and a return on equity of 17.18%. Emcor Group’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, equities analysts forecast that Emcor Group Inc will post 5.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders 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 6.52%.
In other Emcor Group news, Chairman Anthony Guzzi sold 12,314 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $78.07, for a total value of $961,353.98. Following the completion of the sale, the chairman now owns 394,190 shares in the company, valued at approximately $30,774,413.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark A. Pompa sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was 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. In the last quarter, insiders sold 28,546 shares of company stock valued at $2,219,188. 1.90% of the stock is owned by 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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