Alliancebernstein L.P. trimmed its position in Emcor Group Inc (NYSE:EME) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,140 shares of the construction company’s stock after selling 1,620 shares during the quarter. Alliancebernstein L.P. owned 0.28% of Emcor Group worth $11,953,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Commonwealth Bank of Australia bought a new stake in shares of Emcor Group during the 3rd quarter worth $510,000. Prudential Financial Inc. lifted its position in shares of Emcor Group by 3.3% during the 3rd quarter. Prudential Financial Inc. now owns 1,222,818 shares of the construction company’s stock worth $91,846,000 after buying an additional 38,718 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Emcor Group by 292.2% during the 3rd quarter. SG Americas Securities LLC now owns 61,405 shares of the construction company’s stock worth $4,612,000 after buying an additional 45,750 shares during the last quarter. LSV Asset Management bought a new stake in shares of Emcor Group during the 3rd quarter worth $1,003,000. Finally, Systematic Financial Management LP lifted its position in shares of Emcor Group by 11.2% during the 3rd quarter. Systematic Financial Management LP now owns 506,514 shares of the construction company’s stock worth $38,044,000 after buying an additional 50,931 shares during the last quarter. 93.05% of the stock is currently owned by hedge funds and other institutional investors.
Emcor Group stock opened at $66.46 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.94 and a beta of 0.97. Emcor Group Inc has a 12 month low of $63.81 and a 12 month high of $85.08.
Emcor Group (NYSE:EME) last posted its earnings results on Thursday, October 25th. The construction company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.23 by $0.12. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.95 billion. Emcor Group had a return on equity of 15.96% and a net margin of 3.27%. On average, research analysts anticipate that Emcor Group Inc will post 4.87 EPS for the current year.
Emcor Group declared that its board has approved a stock repurchase plan on Thursday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Several equities analysts have commented on the company. Zacks Investment Research upgraded Emcor Group from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Monday, October 1st. DA Davidson upgraded Emcor Group from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Thursday, October 25th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Emcor Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th.
In other Emcor Group news, Director William P. Reid sold 1,900 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $71.69, for a total value of $136,211.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by company insiders.
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 process, food process, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, and controls and filtration systems; roadway and transit lighting and fiber-optic lines; heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems; plumbing, processing, and piping systems; and central plant heating and cooling systems, as well as offers cranes and rigging, millwrighting, and steel fabrication, erection, and welding services.
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