Qube Research & Technologies Ltd Invests $228,000 in Emcor Group Inc (NYSE:EME)

Qube Research & Technologies Ltd acquired a new position in shares of Emcor Group Inc (NYSE:EME) during the 2nd quarter, Holdings Channel reports. The fund acquired 2,590 shares of the construction company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in shares of Emcor Group by 18.1% in the 1st quarter. Wells Fargo & Company MN now owns 994,518 shares of the construction company’s stock worth $72,679,000 after buying an additional 152,580 shares during the period. Geode Capital Management LLC raised its position in shares of Emcor Group by 13.6% in the 4th quarter. Geode Capital Management LLC now owns 900,415 shares of the construction company’s stock worth $53,745,000 after buying an additional 107,927 shares during the period. Rothschild & Co. Asset Management US Inc. raised its position in shares of Emcor Group by 2.6% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 580,742 shares of the construction company’s stock worth $42,441,000 after buying an additional 14,964 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Emcor Group by 10.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 347,230 shares of the construction company’s stock worth $25,376,000 after buying an additional 33,420 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Emcor Group by 14.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 301,760 shares of the construction company’s stock worth $22,053,000 after buying an additional 39,042 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Mark A. Pompa sold 12,000 shares of Emcor Group stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

EME has been the topic of several research reports. Maxim Group reissued a “hold” rating and issued a $85.00 price objective on shares of Emcor Group in a research report on Tuesday, July 30th. Stifel Nicolaus raised their price objective on Emcor Group from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised Emcor Group from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $90.00.

NYSE:EME opened at $83.40 on Thursday. The business’s 50-day moving average is $84.54 and its two-hundred day moving average is $78.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.42 and a quick ratio of 1.40. Emcor Group Inc has a 12 month low of $57.29 and a 12 month high of $89.54. The firm has a market capitalization of $4.64 billion, a PE ratio of 16.99 and a beta of 1.16.

Emcor Group (NYSE:EME) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.30 by $0.19. Emcor Group had a return on equity of 17.47% and a net margin of 3.58%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the company posted $1.21 earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year. Equities analysts anticipate that Emcor Group Inc will post 5.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Friday, July 19th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, July 18th. Emcor Group’s payout ratio is 6.52%.

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.

Further Reading: Street Name

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Institutional Ownership by Quarter for Emcor Group (NYSE:EME)

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