SG Americas Securities LLC reduces its equity position in EMCOR Group, Inc. (NYSE:EME)
SG Americas Securities LLC reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME – Get Rating) by 46.7% in Q1, according to its latest 13F filing with the Securities and Exchange Commission. The fund held 9,103 shares of the construction company after selling 7,974 shares during the quarter. SG Americas Securities LLC’s holdings in EMCOR Group were worth $1,025,000 at the end of the most recent reporting period.
Other institutional investors also changed their stake in the company. CWM LLC purchased a new stake in EMCOR Group stock during Q4 for approximately $27,000. Northwestern Mutual Wealth Management Co. increased its holdings of EMCOR Group shares by 276.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 267 shares of the construction company valued at $34,000 after acquiring 196 additional shares during the period. Covestor Ltd acquired a new position in EMCOR Group in Q4 worth $61,000. Point72 Hong Kong Ltd acquired a new position in EMCOR Group in Q4 worth $84,000. Finally, Okabena Investment Services Inc. acquired a new position in EMCOR Group in Q4 worth $88,000. Hedge funds and other institutional investors own 94.36% of the company’s shares.
Wall Street analysts predict growth
EME has been the subject of a number of recent analyst reports. StockNews.com upgraded EMCOR Group shares from a “buy” rating to a “strong buy” rating in a research note on Sunday. KeyCorp cut its price target on EMCOR Group shares from $146.00 to $125.00 and set an “overweight” rating on the stock in a Tuesday, June 21 research report. Finally, Sidoti upgraded EMCOR Group shares from a “neutral” rating to a “buy” rating and set a target price of $137.00 on the stock in a Monday, May 16 report. Four investment analysts gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $136.25.
Performance of EMCOR Group shares
Shares of EMCOR Group opened at $116.37 on Friday. The stock has a market capitalization of $5.95 billion, a P/E ratio of 16.84 and a beta of 1.13. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt ratio of 0.11. The stock has a 50-day moving average of $104.13 and a 200-day moving average of $110.50. EMCOR Group, Inc. has a 52-week low of $95.64 and a 52-week high of $135.98.
EMCOR Group (NYSE:EME – Get Rating) last reported quarterly earnings data on Thursday, July 28. The construction company reported earnings per share (EPS) of $1.99 for the quarter, beating the consensus estimate of $1.68 by $0.31. EMCOR Group has a return on equity of 17.26% and a net margin of 3.65%. The company posted revenue of $2.71 billion for the quarter, versus $2.60 billion expected by analysts. During the same period last year, the company posted earnings per share of $1.78. The company’s revenue for the quarter increased 11.1% on an annual basis. On average, analysts expect EMCOR Group, Inc. to post EPS of 7.66 for the current fiscal year.
EMCOR Group increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31. Shareholders of record on Tuesday, October 18 will receive a dividend of $0.15. This represents a dividend of $0.60 on an annualized basis and a yield of 0.52%. This is a boost from EMCOR Group’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, October 17. The EMCOR Group’s dividend payout ratio (DPR) is currently 7.53%.
In other EMCOR Group news, Director Carol P. Lowe sold 1,975 shares of the company in a trade dated Monday, June 13. The shares were sold at an average price of $102.55, for a total value of $202,536.25. Following completion of the transaction, the administrator now directly owns 16,722 shares of the company, valued at $1,714,841.10. The sale was disclosed in a filing with the SEC, accessible via this link. Company insiders own 1.70% of the company’s shares.
EMCOR Group Profile
(Get an assessment)
EMCOR Group, Inc provides electrical and mechanical construction and installation services primarily in the United States and United Kingdom. It offers design, integration, installation, start-up, operation and maintenance services related to electrical power transmission, distribution and production systems; energy solutions; the electrical and lighting systems of the premises; process instrumentation in the refining, chemical processing and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communication systems; road and transit lighting, signage and fiber optic lines; heating, ventilation, air conditioning, refrigeration and geothermal solutions; clean room process ventilation systems; fire protection and extinguishing systems; high purity plumbing, processing and piping systems; control and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection and welding services.
Want to see what other hedge funds hold EMIs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for EMCOR Group, Inc. (NYSE:EME – Get Rating).
Get news and reviews for EMCOR Group Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for the EMCOR Group and related companies with MarketBeat.com’s free daily email newsletter.