Emcor Group Inc (NYSE:EME) Sees Large Growth in Short Interest

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Emcor Group Inc (NYSE:EME) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 490,500 shares, an increase of 11.0% from the June 30th total of 442,000 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 301,800 shares, the short-interest ratio is presently 1.6 days.

Shares of Emcor Group stock traded down $0.50 on Thursday, hitting $80.87. 248,861 shares of the company’s stock traded hands, compared to its average volume of 355,766. Emcor Group has a one year low of $57.29 and a one year high of $89.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.42 and a quick ratio of 1.40. The firm’s fifty day moving average price is $85.23. The company has a market cap of $4.65 billion, a P/E ratio of 16.47 and a beta of 1.16.

Emcor Group (NYSE:EME) last announced its earnings results on Tuesday, July 30th. The construction company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.30 by $0.19. Emcor Group had a return on equity of 17.47% and a net margin of 3.58%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, analysts expect that Emcor Group will post 5.69 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Friday, July 19th were issued a $0.08 dividend. The ex-dividend date was Thursday, July 18th. This represents a $0.32 annualized dividend and a yield of 0.40%. Emcor Group’s payout ratio is currently 6.52%.

EME has been the topic of several research analyst reports. Maxim Group restated a “hold” rating and set a $85.00 target price on shares of Emcor Group in a research report on Tuesday, July 30th. Stifel Nicolaus upped their target price on Emcor Group from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Emcor Group from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Emcor Group has a consensus rating of “Buy” and an average price target of $90.00.

In related news, CFO Mark A. Pompa sold 12,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Nuveen Asset Management LLC increased its position in Emcor Group by 188.6% in the second quarter. Nuveen Asset Management LLC now owns 1,183,419 shares of the construction company’s stock worth $104,259,000 after buying an additional 773,392 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Emcor Group by 3.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 34,458 shares of the construction company’s stock worth $3,036,000 after buying an additional 1,031 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Emcor Group by 37.4% in the second quarter. UBS Asset Management Americas Inc. now owns 312,450 shares of the construction company’s stock worth $27,527,000 after buying an additional 85,093 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Emcor Group in the second quarter worth $123,000. Finally, PVG Asset Management Corp purchased a new stake in Emcor Group in the second quarter worth $253,000. Institutional investors and hedge funds own 92.55% of the company’s stock.

About Emcor Group

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.

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