12,515 Shares in Emcor Group Inc (NYSE:EME) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought a new position in shares of Emcor Group Inc (NYSE:EME) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,515 shares of the construction company’s stock, valued at approximately $828,000.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Emcor Group by 6.1% during the first quarter. BlackRock Inc. now owns 7,062,462 shares of the construction company’s stock worth $433,069,000 after buying an additional 408,562 shares in the last quarter. State Street Corp boosted its stake in Emcor Group by 1.9% in the 1st quarter. State Street Corp now owns 1,840,986 shares of the construction company’s stock worth $112,889,000 after purchasing an additional 34,260 shares during the period. Victory Capital Management Inc. boosted its stake in Emcor Group by 4.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,540,738 shares of the construction company’s stock worth $94,478,000 after purchasing an additional 66,982 shares during the period. TimesSquare Capital Management LLC boosted its stake in Emcor Group by 31.0% in the 1st quarter. TimesSquare Capital Management LLC now owns 952,548 shares of the construction company’s stock worth $58,410,000 after purchasing an additional 225,253 shares during the period. Finally, Norges Bank acquired a new position in Emcor Group in the 4th quarter worth approximately $60,673,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.

Shares of Emcor Group stock traded down $0.70 during midday trading on Friday, reaching $68.50. 560,888 shares of the company’s stock traded hands, compared to its average volume of 294,664. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 11.75 and a beta of 1.03. The company’s 50 day simple moving average is $63.34 and its 200 day simple moving average is $68.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.48 and a current ratio of 1.50. Emcor Group Inc has a 52 week low of $41.85 and a 52 week high of $93.54.

Emcor Group (NYSE:EME) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.31 billion. Emcor Group had a net margin of 3.53% and a return on equity of 16.51%. Emcor Group’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. As a group, equities research analysts predict that Emcor Group Inc will post 4.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Monday, July 20th were paid a $0.08 dividend. The ex-dividend date was Friday, July 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. Emcor Group’s payout ratio is presently 5.57%.

A number of equities analysts recently commented on the stock. DA Davidson lowered shares of Emcor Group from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Friday, May 1st. Maxim Group reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Emcor Group in a research note on Wednesday, April 22nd. ValuEngine raised shares of Emcor Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Sidoti upgraded shares of Emcor Group from a “neutral” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Emcor Group from a “hold” rating to a “strong-buy” rating and set a $69.00 target price for the company in a research report on Tuesday, July 7th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.33.

Emcor Group Profile

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

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