Guggenheim Capital LLC cut its position in shares of Emcor Group Inc (NYSE:EME) by 38.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,331 shares of the construction company’s stock after selling 17,251 shares during the period. Guggenheim Capital LLC’s holdings in Emcor Group were worth $1,934,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in EME. TIAA CREF Investment Management LLC increased its position in shares of Emcor Group by 15.4% in the third quarter. TIAA CREF Investment Management LLC now owns 246,758 shares of the construction company’s stock worth $14,712,000 after buying an additional 32,896 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of Emcor Group during the fourth quarter worth approximately $2,165,000. New York State Common Retirement Fund increased its position in shares of Emcor Group by 36.1% in the third quarter. New York State Common Retirement Fund now owns 239,282 shares of the construction company’s stock worth $14,266,000 after buying an additional 63,413 shares during the period. WCM Investment Management CA acquired a new position in shares of Emcor Group during the third quarter worth approximately $2,693,000. Finally, BlackRock Inc. increased its position in shares of Emcor Group by 5.2% in the third quarter. BlackRock Inc. now owns 57,758 shares of the construction company’s stock worth $3,444,000 after buying an additional 2,850 shares during the period. Hedge funds and other institutional investors own 96.39% of the company’s stock.
Emcor Group Inc (NYSE:EME) traded up 1.55% during midday trading on Thursday, hitting $62.97. 51,608 shares of the stock traded hands. Emcor Group Inc has a one year low of $44.27 and a one year high of $73.44. The company’s 50 day moving average is $62.47 and its 200-day moving average is $65.61. The company has a market cap of $3.76 billion, a P/E ratio of 21.21 and a beta of 0.91.
Emcor Group (NYSE:EME) last announced its earnings results on Thursday, February 23rd. The construction company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.83 by $0.11. Emcor Group had a return on equity of 12.85% and a net margin of 2.61%. The firm earned $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Emcor Group Inc will post $3.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, April 17th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Wednesday, April 12th. Emcor Group’s payout ratio is 10.29%.
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A number of brokerages have recently weighed in on EME. Stifel Nicolaus raised shares of Emcor Group from a “hold” rating to a “buy” rating and dropped their price objective for the company from $70.00 to $68.00 in a report on Friday, February 24th. They noted that the move was a valuation call. DA Davidson reaffirmed a “neutral” rating on shares of Emcor Group in a report on Thursday, February 16th. Zacks Investment Research lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Monday, February 27th. Finally, Macquarie began coverage on shares of Emcor Group in a report on Friday, January 13th. They issued a “neutral” rating and a $73.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Emcor Group has a consensus rating of “Hold” and a consensus target price of $67.75.
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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