Oppenheimer Asset Management Inc. increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 15.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,492 shares of the construction company’s stock after purchasing an additional 1,769 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in EMCOR Group were worth $882,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in EMCOR Group by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,570,968 shares of the construction company’s stock worth $98,893,000 after purchasing an additional 25,422 shares during the last quarter. BB&T Securities LLC purchased a new position in EMCOR Group during the first quarter worth about $228,000. Vanguard Group Inc. boosted its holdings in EMCOR Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 4,916,914 shares of the construction company’s stock worth $309,520,000 after purchasing an additional 183,084 shares during the last quarter. Bank of America Corp DE boosted its holdings in EMCOR Group by 6.3% during the first quarter. Bank of America Corp DE now owns 484,259 shares of the construction company’s stock worth $30,484,000 after purchasing an additional 28,545 shares during the last quarter. Finally, Comerica Bank boosted its holdings in EMCOR Group by 1.3% during the second quarter. Comerica Bank now owns 58,682 shares of the construction company’s stock worth $3,756,000 after purchasing an additional 725 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.
Shares of EMCOR Group, Inc. (NYSE:EME) opened at 66.62 on Tuesday. The firm has a 50-day moving average of $65.42 and a 200 day moving average of $64.42. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 19.97 and a beta of 0.89. EMCOR Group, Inc. has a 12 month low of $54.89 and a 12 month high of $73.44.
EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. EMCOR Group had a net margin of 2.63% and a return on equity of 13.19%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. On average, analysts expect that EMCOR Group, Inc. will post $3.57 earnings per share for the current year.
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EME has been the topic of several research reports. BidaskClub lowered shares of EMCOR Group from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of EMCOR Group from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Monday, July 31st. Finally, KeyCorp reaffirmed a “hold” rating on shares of EMCOR Group in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $72.33.
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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