Strs Ohio Increases Stock Position in Emcor Group Inc (NYSE:EME)
Strs Ohio increased its position in Emcor Group Inc (NYSE:EME) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,100 shares of the construction company’s stock after purchasing an additional 500 shares during the quarter. Strs Ohio’s holdings in Emcor Group were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in EME. Norges Bank purchased a new position in shares of Emcor Group in the fourth quarter valued at $60,673,000. BlackRock Inc. boosted its stake in shares of Emcor Group by 6.1% in the first quarter. BlackRock Inc. now owns 7,062,462 shares of the construction company’s stock valued at $433,069,000 after purchasing an additional 408,562 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Emcor Group by 103.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 503,122 shares of the construction company’s stock valued at $30,851,000 after purchasing an additional 255,861 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Emcor Group by 31.0% in the first quarter. TimesSquare Capital Management LLC now owns 952,548 shares of the construction company’s stock valued at $58,410,000 after purchasing an additional 225,253 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Emcor Group by 559.8% in the first quarter. Assenagon Asset Management S.A. now owns 228,891 shares of the construction company’s stock valued at $14,036,000 after purchasing an additional 194,199 shares during the period. Institutional investors and hedge funds own 92.94% of the company’s stock.
EME has been the topic of several recent analyst reports. Sidoti raised shares of Emcor Group from a “neutral” rating to a “buy” rating in a report on Wednesday. DA Davidson cut shares of Emcor Group from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Friday, May 1st. ValuEngine raised shares of Emcor Group from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Maxim Group reaffirmed a “hold” rating and issued a $60.00 price target on shares of Emcor Group in a report on Wednesday, April 22nd. Finally, Zacks Investment Research raised shares of Emcor Group from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a report on Tuesday, July 7th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.50.
Emcor Group (NYSE:EME) last issued its earnings results on Thursday, April 30th. The construction company reported $1.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.35. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Emcor Group had a net margin of 3.53% and a return on equity of 16.51%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. Sell-side analysts expect that Emcor Group Inc will post 4.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Monday, July 20th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, July 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. Emcor Group’s dividend payout ratio (DPR) is 5.57%.
About Emcor Group
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 and food processing, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, controls and filtration, central plant heating and cooling, plumbing, process, and piping systems; roadway and transit lighting, and fiber-optic lines; and heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems, as well as offers crane, rigging, and millwright; and steel fabrication, erection, and welding services.
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