Virginia Retirement Systems ET AL lowered its position in Emcor Group Inc (NYSE:EME) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,100 shares of the construction company’s stock after selling 2,900 shares during the period. Virginia Retirement Systems ET AL’s holdings in Emcor Group were worth $1,325,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Emcor Group in the first quarter valued at approximately $1,574,000. Capstone Asset Management Co. grew its holdings in Emcor Group by 8.0% during the 2nd quarter. Capstone Asset Management Co. now owns 4,702 shares of the construction company’s stock worth $307,000 after acquiring an additional 350 shares during the period. Aperio Group LLC grew its holdings in Emcor Group by 14.6% during the 2nd quarter. Aperio Group LLC now owns 26,430 shares of the construction company’s stock worth $1,728,000 after acquiring an additional 3,362 shares during the period. Russell Investments Group Ltd. grew its holdings in Emcor Group by 7.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 171,090 shares of the construction company’s stock worth $11,187,000 after acquiring an additional 11,886 shares during the period. Finally, Strs Ohio grew its holdings in Emcor Group by 44.5% during the 2nd quarter. Strs Ohio now owns 25,000 shares of the construction company’s stock worth $1,634,000 after acquiring an additional 7,700 shares during the period. Institutional investors own 94.40% of the company’s stock.
Emcor Group Inc (NYSE EME) traded down $0.13 on Thursday, reaching $80.24. 217,100 shares of the company traded hands, compared to its average volume of 356,338. The company has a market cap of $4,726.87, a PE ratio of 22.08, a P/E/G ratio of 1.41 and a beta of 1.01. Emcor Group Inc has a 1-year low of $59.76 and a 1-year high of $81.88. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.25.
Emcor Group announced that its board has approved a stock repurchase plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, Director Jerry E. Ryan sold 13,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $78.06, for a total value of $1,014,780.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.
A number of analysts have commented on EME shares. Zacks Investment Research lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. ValuEngine cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. KeyCorp reissued a “hold” rating on shares of Emcor Group in a research report on Friday, November 17th. BidaskClub cut shares of Emcor Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $88.00 price target (up from $75.00) on shares of Emcor Group in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $83.33.
About Emcor Group
EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its 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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