Emcor Group Inc. (EME) Stake Maintained by Sit Investment Associates Inc.
Sit Investment Associates Inc. held its stake in Emcor Group Inc. (NYSE:EME) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,925 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Emcor Group were worth $1,868,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Emcor Group by 52.9% in the first quarter. BlackRock Inc. now owns 20,346 shares of the company’s stock valued at $989,000 after buying an additional 7,035 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Emcor Group by 29.7% in the first quarter. Nuveen Asset Management LLC now owns 105,925 shares of the company’s stock valued at $5,148,000 after buying an additional 24,230 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Emcor Group by 12.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,721,433 shares of the company’s stock valued at $83,662,000 after buying an additional 184,094 shares during the last quarter. Hancock Holding Co. bought a new stake in Emcor Group during the first quarter valued at $1,021,000. Finally, Genesee Valley Trust Co. increased its stake in Emcor Group by 1.9% in the second quarter. Genesee Valley Trust Co. now owns 22,003 shares of the company’s stock valued at $1,084,000 after buying an additional 400 shares during the last quarter. 96.89% of the stock is owned by institutional investors.
Shares of Emcor Group Inc. (NYSE:EME) traded down 3.46% during midday trading on Tuesday, hitting $57.17. 637,511 shares of the company were exchanged. The stock’s 50-day moving average is $57.74 and its 200-day moving average is $51.73. Emcor Group Inc. has a one year low of $40.98 and a one year high of $60.56. The stock has a market cap of $3.48 billion, a PE ratio of 19.53 and a beta of 1.09.
Emcor Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.24. Emcor Group had a net margin of 2.55% and a return on equity of 12.33%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Emcor Group’s quarterly revenue was up 16.8% on a year-over-year basis. Equities research analysts anticipate that Emcor Group Inc. will post $3.10 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Monday, October 17th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, October 13th. Emcor Group’s dividend payout ratio is currently 10.92%.
EME has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Sidoti initiated coverage on shares of Emcor Group in a research report on Tuesday, June 21st. They issued a “buy” rating for the company. Finally, FBR & Co boosted their target price on shares of Emcor Group from $52.00 to $62.00 and gave the stock a “mkt perform” rating in a research report on Tuesday, August 16th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Emcor Group has an average rating of “Buy” and a consensus target price of $57.00.
In related news, Director David A. B. Brown sold 5,851 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $55.25, for a total transaction of $323,267.75. Following the completion of the sale, the director now directly owns 22,076 shares of the company’s stock, valued at approximately $1,219,699. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jerry E. Ryan sold 6,202 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $55.42, for a total transaction of $343,714.84. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Emcor Group Company Profile
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides a number of building services and industrial services. The Company’s 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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