Retirement Systems of Alabama boosted its stake in Emcor Group Inc (NYSE:EME) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,083 shares of the construction company’s stock after purchasing an additional 4,058 shares during the quarter. Retirement Systems of Alabama owned about 0.27% of Emcor Group worth $11,799,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of EME. Commonwealth Equity Services LLC grew its holdings in shares of Emcor Group by 27.4% during the first quarter. Commonwealth Equity Services LLC now owns 4,875 shares of the construction company’s stock valued at $379,000 after purchasing an additional 1,047 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Emcor Group by 26.9% during the first quarter. LPL Financial LLC now owns 6,770 shares of the construction company’s stock valued at $528,000 after purchasing an additional 1,435 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Emcor Group by 5.7% during the first quarter. Guggenheim Capital LLC now owns 68,629 shares of the construction company’s stock valued at $5,348,000 after purchasing an additional 3,705 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Emcor Group by 3.2% during the first quarter. Legal & General Group Plc now owns 81,708 shares of the construction company’s stock valued at $6,368,000 after purchasing an additional 2,566 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Emcor Group by 47.8% during the first quarter. Xact Kapitalforvaltning AB now owns 7,416 shares of the construction company’s stock valued at $578,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.
EME stock traded up $0.50 on Thursday, reaching $72.14. The company’s stock had a trading volume of 147,398 shares, compared to its average volume of 511,276. Emcor Group Inc has a 52 week low of $63.81 and a 52 week high of $85.08. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.44.
Emcor Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 25th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.12. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.95 billion. Emcor Group had a return on equity of 15.96% and a net margin of 3.27%. On average, equities analysts anticipate that Emcor Group Inc will post 4.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Monday, October 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, October 12th. Emcor Group’s payout ratio is currently 7.88%.
Emcor Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the construction company to purchase up to 5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
EME has been the subject of a number of recent analyst reports. DA Davidson raised Emcor Group from a “neutral” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Thursday, October 25th. They noted that the move was a valuation call. ValuEngine lowered Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research raised Emcor Group from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Monday, October 1st.
In other Emcor Group news, Director William P. Reid sold 1,900 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $71.69, for a total transaction of $136,211.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Retirement Systems of Alabama Buys 4,058 Shares of Emcor Group Inc (NYSE:EME)” was posted by Enterprise Leader and is the property of of Enterprise Leader. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://theenterpriseleader.com/2018/11/22/retirement-systems-of-alabama-has-11-80-million-position-in-emcor-group-inc-eme.html.
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 process, food process, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, and controls and filtration systems; roadway and transit lighting and fiber-optic lines; heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems; plumbing, processing, and piping systems; and central plant heating and cooling systems, as well as offers cranes and rigging, millwrighting, and steel fabrication, erection, and welding services.
Read More: Discover Your Risk Tolerance
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.