Los Angeles Capital Management & Equity Research Inc. increased its stake in Emcor Group Inc (NYSE:EME) by 28.5% during the 2nd quarter, Holdings Channel reports. The firm owned 59,202 shares of the construction company’s stock after purchasing an additional 13,145 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Emcor Group were worth $5,216,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of EME. Icon Wealth Partners LLC bought a new position in Emcor Group during the first quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Emcor Group by 42.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 600 shares of the construction company’s stock valued at $53,000 after acquiring an additional 180 shares during the last quarter. FinTrust Capital Advisors LLC grew its position in Emcor Group by 62.4% during the first quarter. FinTrust Capital Advisors LLC now owns 812 shares of the construction company’s stock valued at $59,000 after acquiring an additional 312 shares during the last quarter. Hilton Capital Management LLC bought a new position in Emcor Group during the first quarter valued at approximately $99,000. Finally, ETF Managers Group LLC grew its position in Emcor Group by 8.1% during the first quarter. ETF Managers Group LLC now owns 1,841 shares of the construction company’s stock valued at $135,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 92.55% of the company’s stock.
In other news, CFO Mark A. Pompa sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $85.00, for a total value of $1,020,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.
A number of brokerages have commented on EME. Zacks Investment Research upgraded shares of Emcor Group from a “hold” rating to a “strong-buy” rating and set a $97.00 price target on the stock in a research report on Thursday, May 2nd. Maxim Group restated a “hold” rating and issued a $85.00 target price on shares of Emcor Group in a report on Tuesday, July 30th. Finally, Stifel Nicolaus raised their target price on shares of Emcor Group from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $90.00.
Shares of Emcor Group stock opened at $82.52 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.42 and a quick ratio of 1.40. Emcor Group Inc has a 52-week low of $57.29 and a 52-week high of $89.54. The company has a market capitalization of $4.66 billion, a PE ratio of 16.81 and a beta of 1.16. The business has a 50 day moving average price of $85.28.
Emcor Group (NYSE:EME) last issued its earnings results on Tuesday, July 30th. The construction company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.19. Emcor Group had a net margin of 3.58% and a return on equity of 17.47%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the business earned $1.21 earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. Analysts forecast that Emcor Group Inc will post 5.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Friday, July 19th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Thursday, July 18th. Emcor Group’s dividend payout ratio is 6.52%.
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.
See Also: What is a Lock-Up Period?
Want to see what other hedge funds are holding EME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emcor Group Inc (NYSE:EME).
Receive News & Ratings for Emcor Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emcor Group and related companies with MarketBeat.com's FREE daily email newsletter.