Metropolitan Life Insurance Co NY trimmed its holdings in Emcor Group Inc (NYSE:EME) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,520 shares of the construction company’s stock after selling 735 shares during the quarter. Metropolitan Life Insurance Co NY owned 0.06% of Emcor Group worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of EME. Rehmann Capital Advisory Group grew its stake in shares of Emcor Group by 1,045.7% in the first quarter. Rehmann Capital Advisory Group now owns 5,270 shares of the construction company’s stock worth $385,000 after acquiring an additional 4,810 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Emcor Group by 11,886.9% in the first quarter. Marshall Wace LLP now owns 78,394 shares of the construction company’s stock valued at $5,729,000 after buying an additional 77,740 shares in the last quarter. Hilton Capital Management LLC acquired a new stake in shares of Emcor Group in the first quarter valued at $99,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Emcor Group by 10.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 347,230 shares of the construction company’s stock valued at $25,376,000 after buying an additional 33,420 shares in the last quarter. Finally, Hancock Whitney Corp increased its stake in shares of Emcor Group by 11.2% in the first quarter. Hancock Whitney Corp now owns 20,782 shares of the construction company’s stock valued at $1,519,000 after buying an additional 2,095 shares in the last quarter. 93.65% of the stock is owned by institutional investors and hedge funds.
EME has been the subject of a number of research reports. Maxim Group set a $73.00 target price on Emcor Group and gave the company a “hold” rating in a research note on Friday, April 26th. ValuEngine lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Zacks Investment Research lowered Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd.
Emcor Group (NYSE:EME) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.23. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $1.98 billion. Emcor Group had a return on equity of 17.18% and a net margin of 3.58%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Equities analysts anticipate that Emcor Group Inc will post 5.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Friday, July 19th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. Emcor Group’s payout ratio is currently 6.52%.
In other Emcor Group news, Chairman Anthony Guzzi sold 12,314 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $78.07, for a total value of $961,353.98. Following the sale, the chairman now owns 394,190 shares in the company, valued at approximately $30,774,413.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark A. Pompa sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $80.00, for a total value of $640,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,314 shares of company stock worth $2,621,354 in the last quarter. 1.90% of the stock is currently owned by company insiders.
Emcor Group 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.
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