Train Babcock Advisors LLC lowered its position in Emcor Group Inc (NYSE:EME) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,115 shares of the construction company’s stock after selling 2,565 shares during the quarter. Emcor Group makes up about 1.5% of Train Babcock Advisors LLC’s portfolio, making the stock its 26th biggest position. Train Babcock Advisors LLC’s holdings in Emcor Group were worth $3,361,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Amalgamated Bank grew its stake in Emcor Group by 0.4% in the second quarter. Amalgamated Bank now owns 8,517 shares of the construction company’s stock worth $557,000 after purchasing an additional 38 shares in the last quarter. Stifel Financial Corp grew its stake in Emcor Group by 0.4% in the second quarter. Stifel Financial Corp now owns 20,550 shares of the construction company’s stock worth $1,344,000 after purchasing an additional 77 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Emcor Group by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,376 shares of the construction company’s stock worth $155,000 after purchasing an additional 194 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Emcor Group by 1.9% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,479 shares of the construction company’s stock worth $516,000 after purchasing an additional 198 shares in the last quarter. Finally, Sii Investments Inc. WI grew its stake in Emcor Group by 2.4% in the second quarter. Sii Investments Inc. WI now owns 9,148 shares of the construction company’s stock worth $598,000 after purchasing an additional 215 shares in the last quarter. 94.07% of the stock is currently owned by institutional investors.
In other Emcor Group news, Director William P. Reid sold 4,647 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $82.90, for a total transaction of $385,236.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry E. Ryan sold 13,000 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $78.06, for a total value of $1,014,780.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Emcor Group (NYSE:EME) last posted its earnings results on Thursday, October 26th. The construction company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.27. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.93 billion. Emcor Group had a return on equity of 13.94% and a net margin of 2.82%. Emcor Group’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. research analysts anticipate that Emcor Group Inc will post 3.79 earnings per share for the current year.
Emcor Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the construction company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. Emcor Group’s dividend payout ratio is currently 8.84%.
A number of research firms have weighed in on EME. Zacks Investment Research lowered Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. ValuEngine lowered Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. KeyCorp restated a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. Finally, Stifel Nicolaus restated a “buy” rating and set a $88.00 target price (up previously from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Emcor Group has a consensus rating of “Hold” and a consensus target price of $83.33.
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Emcor Group Profile
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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