Hsbc Holdings PLC boosted its holdings in Emcor Group Inc (NYSE:EME) by 55.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,790 shares of the construction company’s stock after buying an additional 25,023 shares during the quarter. Hsbc Holdings PLC owned approximately 0.12% of Emcor Group worth $5,242,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP bought a new position in Emcor Group in the 2nd quarter valued at approximately $203,000. Cubist Systematic Strategies LLC raised its holdings in Emcor Group by 234.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,598 shares of the construction company’s stock valued at $274,000 after buying an additional 2,522 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in Emcor Group by 1,843.1% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,925 shares of the construction company’s stock valued at $299,000 after buying an additional 3,723 shares during the last quarter. Virtu Financial LLC bought a new position in Emcor Group in the 3rd quarter valued at approximately $297,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Emcor Group in the 2nd quarter valued at approximately $338,000. Institutional investors and hedge funds own 93.05% of the company’s stock.
EME has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Emcor Group from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Monday, October 1st. ValuEngine lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, DA Davidson upgraded shares of Emcor Group from a “neutral” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Thursday, October 25th. They noted that the move was a valuation call.
NYSE:EME opened at $66.46 on Friday. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.94 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.44. Emcor Group Inc has a fifty-two week low of $63.81 and a fifty-two week high of $85.08.
Emcor Group (NYSE:EME) last released its earnings results on Thursday, October 25th. The construction company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.12. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.95 billion. Emcor Group had a net margin of 3.27% and a return on equity of 15.96%. On average, sell-side analysts expect that Emcor Group Inc will post 4.87 EPS for the current year.
Emcor Group announced that its board has authorized a share repurchase plan on Thursday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the construction company to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Emcor Group news, Director William P. Reid sold 1,900 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $71.69, for a total transaction of $136,211.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.
Emcor Group 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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