Train Babcock Advisors LLC cut its position in Emcor Group Inc (NYSE:EME) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,115 shares of the construction company’s stock after selling 2,565 shares during the quarter. Emcor Group comprises about 1.5% of Train Babcock Advisors LLC’s portfolio, making the stock its 26th biggest holding. Train Babcock Advisors LLC owned approximately 0.07% of Emcor Group worth $3,361,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Emcor Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,982,822 shares of the construction company’s stock valued at $325,777,000 after acquiring an additional 65,908 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Emcor Group by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,202,317 shares of the construction company’s stock worth $152,797,000 after buying an additional 82,349 shares in the last quarter. State Street Corp raised its holdings in shares of Emcor Group by 2.5% during the 2nd quarter. State Street Corp now owns 2,059,368 shares of the construction company’s stock worth $134,642,000 after buying an additional 50,588 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Emcor Group by 2.1% during the 2nd quarter. Northern Trust Corp now owns 1,611,590 shares of the construction company’s stock worth $105,366,000 after buying an additional 33,361 shares in the last quarter. Finally, Ruane Cunniff & Goldfarb Inc. raised its holdings in shares of Emcor Group by 1.7% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,441,346 shares of the construction company’s stock worth $100,001,000 after buying an additional 23,775 shares in the last quarter. Institutional investors and hedge funds own 94.26% of the company’s stock.
In related news, Director Jerry E. Ryan sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $78.06, for a total transaction of $1,014,780.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William P. Reid sold 4,647 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $82.90, for a total value of $385,236.30. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Emcor Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.27. Emcor Group had a return on equity of 13.94% and a net margin of 2.82%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was down 2.9% on a year-over-year basis. analysts forecast that Emcor Group Inc will post 3.79 earnings per share for the current year.
Emcor Group declared that its board has authorized a share repurchase program on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. Emcor Group’s payout ratio is 8.94%.
A number of research firms have recently commented on EME. Zacks Investment Research cut Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. KeyCorp reaffirmed a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. ValuEngine cut Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 target price (up previously from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $88.50.
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Emcor Group Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.
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