New York State Common Retirement Fund Trims Stake in Emcor Group Inc (EME)

New York State Common Retirement Fund trimmed its stake in shares of Emcor Group Inc (NYSE:EME) by 23.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,233 shares of the construction company’s stock after selling 61,519 shares during the period. New York State Common Retirement Fund owned about 0.34% of Emcor Group worth $13,753,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in shares of Emcor Group during the 3rd quarter worth approximately $3,195,000. Comerica Bank increased its stake in shares of Emcor Group by 1.3% during the 2nd quarter. Comerica Bank now owns 58,682 shares of the construction company’s stock worth $3,756,000 after purchasing an additional 725 shares in the last quarter. Train Babcock Advisors LLC increased its stake in shares of Emcor Group by 4.4% during the 3rd quarter. Train Babcock Advisors LLC now owns 43,680 shares of the construction company’s stock worth $3,030,000 after purchasing an additional 1,835 shares in the last quarter. Century Capital Management LLC increased its stake in shares of Emcor Group by 102.9% during the 2nd quarter. Century Capital Management LLC now owns 52,162 shares of the construction company’s stock worth $3,410,000 after purchasing an additional 26,448 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Emcor Group by 31.4% during the 2nd quarter. SG Americas Securities LLC now owns 20,158 shares of the construction company’s stock worth $1,318,000 after purchasing an additional 4,814 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

In other news, Director Jerry E. Ryan sold 13,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $78.06, for a total transaction of $1,014,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Several research firms have commented on EME. KeyCorp reaffirmed a “hold” rating on shares of Emcor Group in a research note on Friday, November 17th. ValuEngine cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 target price (up from $75.00) on shares of Emcor Group in a research note 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 target price for the company in a research note on Tuesday, October 31st. Finally, BidaskClub cut shares of Emcor Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $83.33.

Shares of Emcor Group Inc (NYSE:EME) opened at $81.09 on Monday. The company has a market cap of $4,769.23, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.25. Emcor Group Inc has a 12 month low of $59.76 and a 12 month high of $82.03.

Emcor Group (NYSE:EME) last released its earnings results on Thursday, October 26th. The construction company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.27. Emcor Group had a net margin of 2.82% and a return on equity of 13.94%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the company earned $0.85 EPS. Emcor Group’s revenue for the quarter was down 2.9% on a year-over-year basis. equities analysts anticipate that Emcor Group Inc will post 3.79 earnings per share for the current fiscal year.

Emcor Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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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.

Institutional Ownership by Quarter for Emcor Group (NYSE:EME)

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