Ontario Teachers Pension Plan Board acquired a new stake in Emcor Group Inc (NYSE:EME) in the first quarter, Holdings Channel reports. The institutional investor acquired 12,353 shares of the construction company’s stock, valued at approximately $757,000.
Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Emcor Group by 6.1% in the 1st quarter. BlackRock Inc. now owns 7,062,462 shares of the construction company’s stock valued at $433,069,000 after purchasing an additional 408,562 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Emcor Group by 4.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,540,738 shares of the construction company’s stock valued at $94,478,000 after purchasing an additional 66,982 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Emcor Group by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 1,218,970 shares of the construction company’s stock valued at $105,197,000 after purchasing an additional 69,545 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Emcor Group by 11.9% in the 4th quarter. AQR Capital Management LLC now owns 1,152,676 shares of the construction company’s stock valued at $99,476,000 after purchasing an additional 122,222 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Emcor Group by 31.0% in the 1st quarter. TimesSquare Capital Management LLC now owns 952,548 shares of the construction company’s stock valued at $58,410,000 after purchasing an additional 225,253 shares in the last quarter. 92.91% of the stock is owned by institutional investors.
NYSE:EME opened at $62.06 on Friday. The company has a fifty day moving average of $60.65 and a 200 day moving average of $76.80. Emcor Group Inc has a 52 week low of $41.85 and a 52 week high of $93.54. The company has a quick ratio of 1.48, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.49 billion, a P/E ratio of 10.64 and a beta of 1.02.
Emcor Group (NYSE:EME) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.35. Emcor Group had a net margin of 3.53% and a return on equity of 16.51%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts anticipate that Emcor Group Inc will post 3.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Friday, April 17th were issued a $0.08 dividend. The ex-dividend date was Thursday, April 16th. This represents a $0.32 annualized dividend and a yield of 0.52%. Emcor Group’s dividend payout ratio (DPR) is presently 5.57%.
In related news, Director John W. Altmeyer acquired 1,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $58.52 per share, for a total transaction of $58,520.00. The purchase was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.
EME has been the subject of a number of research reports. DA Davidson cut shares of Emcor Group from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Friday, May 1st. ValuEngine lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 8th. Maxim Group reiterated a “hold” rating and set a $60.00 price target on shares of Emcor Group in a report on Wednesday, April 22nd. Finally, TheStreet lowered shares of Emcor Group from a “b-” rating to a “c+” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $75.00.
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.
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.