Fmr LLC Has $197.17 Million Stake in EMCOR Group, Inc. (EME)
Fmr LLC trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,015,773 shares of the construction company’s stock after selling 210,570 shares during the quarter. Fmr LLC owned about 5.10% of EMCOR Group worth $197,172,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of EMCOR Group by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,982,822 shares of the construction company’s stock worth $325,777,000 after buying an additional 65,908 shares during the period. Northern Trust Corp grew its stake in EMCOR Group by 2.1% in the 2nd quarter. Northern Trust Corp now owns 1,611,590 shares of the construction company’s stock valued at $105,366,000 after buying an additional 33,361 shares during the last quarter. New York State Common Retirement Fund grew its stake in EMCOR Group by 2.8% in the 2nd quarter. New York State Common Retirement Fund now owns 259,752 shares of the construction company’s stock valued at $16,983,000 after buying an additional 6,952 shares during the last quarter. Verity Asset Management Inc. grew its stake in EMCOR Group by 34.4% in the 2nd quarter. Verity Asset Management Inc. now owns 4,548 shares of the construction company’s stock valued at $297,000 after buying an additional 1,163 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in EMCOR Group by 18.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 76,980 shares of the construction company’s stock valued at $5,033,000 after buying an additional 12,240 shares during the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.
Shares of EMCOR Group, Inc. (EME) opened at 70.11 on Wednesday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 21.02 and a beta of 0.89. EMCOR Group, Inc. has a 12-month low of $55.10 and a 12-month high of $73.44. The firm has a 50-day moving average price of $66.49 and a 200-day moving average price of $65.09.
EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. EMCOR Group had a return on equity of 13.19% and a net margin of 2.63%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. Equities research analysts anticipate that EMCOR Group, Inc. will post $3.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Tuesday, October 17th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, October 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. EMCOR Group’s dividend payout ratio is presently 9.61%.
Several brokerages recently commented on EME. Zacks Investment Research upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Monday, July 31st. BidaskClub lowered shares of EMCOR Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, KeyCorp restated a “hold” rating on shares of EMCOR Group in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. EMCOR Group has a consensus rating of “Hold” and an average target price of $72.33.
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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