Emcor Group Inc (NYSE:EME) Sees Significant Decrease in Short Interest
Emcor Group Inc (NYSE:EME) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 442,000 shares, a decline of 21.2% from the June 15th total of 560,700 shares. Based on an average daily volume of 345,100 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.8% of the shares of the company are sold short.
In related news, CFO Mark A. Pompa sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $85.00, for a total value of $1,020,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of EME. Two Sigma Investments LP increased its position in Emcor Group by 663.7% in the 4th quarter. Two Sigma Investments LP now owns 57,240 shares of the construction company’s stock worth $3,417,000 after buying an additional 49,745 shares during the period. Two Sigma Advisers LP increased its position in shares of Emcor Group by 25.0% during the fourth quarter. Two Sigma Advisers LP now owns 106,980 shares of the construction company’s stock valued at $6,386,000 after purchasing an additional 21,389 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in shares of Emcor Group during the fourth quarter valued at approximately $834,000. Legal & General Group Plc increased its position in shares of Emcor Group by 34.5% during the fourth quarter. Legal & General Group Plc now owns 106,084 shares of the construction company’s stock valued at $6,332,000 after purchasing an additional 27,231 shares during the period. Finally, Millennium Management LLC increased its position in shares of Emcor Group by 38.6% during the fourth quarter. Millennium Management LLC now owns 207,952 shares of the construction company’s stock valued at $12,413,000 after purchasing an additional 57,912 shares during the period. 93.66% of the stock is currently owned by institutional investors.
Emcor Group (NYSE:EME) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.23. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $1.98 billion. Emcor Group had a return on equity of 17.18% and a net margin of 3.58%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. As a group, analysts predict that Emcor Group will post 5.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Friday, July 19th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.38%. The ex-dividend date is Thursday, July 18th. Emcor Group’s dividend payout ratio is currently 6.52%.
Several research firms recently weighed in on EME. Zacks Investment Research lowered Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Maxim Group set a $73.00 target price on Emcor Group and gave the stock a “hold” rating in a report on Friday, April 26th.
Emcor Group Company 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.
Further Reading: Preferred Stock
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