Hahn Capital Management LLC Has $29.05 Million Position in Emcor Group Inc (EME)
Hahn Capital Management LLC boosted its position in shares of Emcor Group Inc (NYSE:EME) by 28.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 418,659 shares of the construction company’s stock after buying an additional 92,305 shares during the quarter. Emcor Group makes up 2.9% of Hahn Capital Management LLC’s holdings, making the stock its 19th biggest position. Hahn Capital Management LLC owned about 0.71% of Emcor Group worth $29,047,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Emcor Group during the first quarter valued at $1,574,000. Great West Life Assurance Co. Can lifted its holdings in Emcor Group by 3.2% during the second quarter. Great West Life Assurance Co. Can now owns 35,424 shares of the construction company’s stock valued at $2,315,000 after purchasing an additional 1,083 shares in the last quarter. IFP Advisors Inc lifted its holdings in Emcor Group by 10.8% during the second quarter. IFP Advisors Inc now owns 2,546 shares of the construction company’s stock valued at $166,000 after purchasing an additional 249 shares in the last quarter. Global X Management Co. LLC lifted its holdings in Emcor Group by 220.0% during the second quarter. Global X Management Co. LLC now owns 1,920 shares of the construction company’s stock valued at $126,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Emcor Group by 0.8% during the second quarter. Arizona State Retirement System now owns 25,000 shares of the construction company’s stock valued at $1,635,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.
Emcor Group Inc (NYSE EME) opened at $81.07 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4,769.21, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. Emcor Group Inc has a twelve month low of $59.76 and a twelve month high of $81.88.
Emcor Group declared that its board has authorized a stock buyback program on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
EME has been the topic of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 price objective (up from $75.00) on shares of Emcor Group in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Emcor Group from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, October 31st. KeyCorp reaffirmed a “hold” rating on shares of Emcor Group in a report on Friday, November 17th. ValuEngine downgraded shares of Emcor Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, BidaskClub downgraded shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Emcor Group presently has an average rating of “Hold” and an average price target of $83.33.
In other news, Director Jerry E. Ryan sold 13,000 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Company insiders own 2.00% of the company’s stock.
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Emcor Group Company 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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