Comerica Bank Cuts Stock Position in Emcor Group Inc (NYSE:EME)

Comerica Bank lessened its holdings in Emcor Group Inc (NYSE:EME) by 2.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 47,688 shares of the construction company’s stock after selling 1,105 shares during the period. Comerica Bank owned 0.08% of Emcor Group worth $4,225,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EME. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Emcor Group by 42.9% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 600 shares of the construction company’s stock valued at $53,000 after purchasing an additional 180 shares during the last quarter. Wealthcare Capital Management LLC bought a new position in shares of Emcor Group during the 3rd quarter valued at about $53,000. Kavar Capital Partners LLC bought a new position in shares of Emcor Group during the 2nd quarter valued at about $61,000. Usca Ria LLC bought a new position in shares of Emcor Group during the 3rd quarter valued at about $83,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Emcor Group during the 2nd quarter valued at about $97,000. Institutional investors and hedge funds own 92.38% of the company’s stock.

Shares of NYSE:EME opened at $89.40 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.22. Emcor Group Inc has a 12 month low of $57.29 and a 12 month high of $93.54. The company has a 50-day moving average price of $87.36 and a 200 day moving average price of $84.77. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 18.21 and a beta of 1.10.

Emcor Group (NYSE:EME) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.04. Emcor Group had a net margin of 3.51% and a return on equity of 17.11%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Emcor Group Inc will post 5.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Friday, October 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Thursday, October 17th. Emcor Group’s payout ratio is 6.52%.

Several research firms have commented on EME. Maxim Group reissued a “hold” rating and set a $95.00 price objective on shares of Emcor Group in a report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of Emcor Group from $93.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 1st. DA Davidson increased their price target on shares of Emcor Group to $107.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Finally, ValuEngine downgraded shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $98.50.

About Emcor Group

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.

Featured Article: Dividend

Institutional Ownership by Quarter for Emcor Group (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.