Convergence Investment Partners LLC acquired a new position in shares of Emcor Group Inc (NYSE:EME) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,515 shares of the construction company’s stock, valued at approximately $828,000.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Emcor Group by 6.1% during the 1st quarter. BlackRock Inc. now owns 7,062,462 shares of the construction company’s stock valued at $433,069,000 after buying an additional 408,562 shares during the period. State Street Corp boosted its position in Emcor Group by 1.9% during the 1st quarter. State Street Corp now owns 1,840,986 shares of the construction company’s stock worth $112,889,000 after purchasing an additional 34,260 shares during the period. Victory Capital Management Inc. boosted its position in Emcor Group by 4.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,540,738 shares of the construction company’s stock worth $94,478,000 after purchasing an additional 66,982 shares during the period. TimesSquare Capital Management LLC boosted its position in Emcor Group by 31.0% during the 1st quarter. TimesSquare Capital Management LLC now owns 952,548 shares of the construction company’s stock worth $58,410,000 after purchasing an additional 225,253 shares during the period. Finally, Norges Bank purchased a new stake in Emcor Group during the 4th quarter worth $60,673,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Emcor Group from a “hold” rating to a “strong-buy” rating and set a $69.00 price target for the company in a research report on Tuesday, July 7th. ValuEngine raised shares of Emcor Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Sidoti raised shares of Emcor Group from a “neutral” rating to a “buy” rating in a research report on Wednesday. Maxim Group reissued a “hold” rating and issued a $60.00 price objective on shares of Emcor Group in a research report on Wednesday, April 22nd. Finally, DA Davidson cut shares of Emcor Group from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Friday, May 1st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Emcor Group presently has an average rating of “Buy” and an average price target of $66.33.
Emcor Group (NYSE:EME) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Emcor Group had a net margin of 3.53% and a return on equity of 16.51%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS. On average, equities analysts predict that Emcor Group Inc will post 4.58 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Monday, July 20th were paid a $0.08 dividend. The ex-dividend date was Friday, July 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. Emcor Group’s dividend payout ratio (DPR) is presently 5.57%.
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.
Further Reading: What is a stock split?
Want to see what other hedge funds are holding EME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emcor Group Inc (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.