Emcor Group Inc. (EME) Position Reduced by First Citizens Bank & Trust Co.
First Citizens Bank & Trust Co. lowered its position in Emcor Group Inc. (NYSE:EME) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 10,418 shares of the company’s stock after selling 996 shares during the period. First Citizens Bank & Trust Co.’s holdings in Emcor Group were worth $513,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Emcor Group by 52.9% in the first quarter. BlackRock Inc. now owns 20,346 shares of the company’s stock worth $989,000 after buying an additional 7,035 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Emcor Group by 29.7% in the first quarter. Nuveen Asset Management LLC now owns 105,925 shares of the company’s stock worth $5,148,000 after buying an additional 24,230 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 worth $83,662,000 after buying an additional 184,094 shares in the last quarter. Hancock Holding Co. purchased a new position in shares of Emcor Group during the first quarter worth $1,021,000. Finally, Genesee Valley Trust Co. boosted its position in shares of Emcor Group by 1.9% in the second quarter. Genesee Valley Trust Co. now owns 22,003 shares of the company’s stock worth $1,084,000 after buying an additional 400 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors.
Shares of Emcor Group Inc. (NYSE:EME) traded down 0.93% during midday trading on Friday, hitting $57.28. 380,923 shares of the company were exchanged. The firm’s 50 day moving average price is $57.78 and its 200 day moving average price is $51.93. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.56 and a beta of 1.10. Emcor Group Inc. has a one year low of $40.98 and a one year high of $60.56.
Emcor Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Zacks’ 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 period in the prior year, the firm posted $0.74 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Analysts forecast that Emcor Group Inc. will post $3.10 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Monday, October 17th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. 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 topic of a number of recent analyst reports. Zacks Investment Research cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Sidoti started coverage on shares of Emcor Group in a report on Tuesday, June 21st. They set a “buy” rating on the stock. Finally, FBR & Co raised their price objective on shares of Emcor Group from $52.00 to $62.00 and gave the stock a “mkt perform” rating in a report on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $57.75.
In related news, Director David A. B. Brown sold 5,851 shares of the 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 transaction, the director now directly owns 22,076 shares of the company’s stock, valued at $1,219,699. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerry E. Ryan sold 6,202 shares of the 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. 2.40% of the stock is currently owned by insiders.
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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