Emcor Group Inc (NYSE:EME) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 830,600 shares, an increase of 7.9% from the December 15th total of 769,700 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 253,000 shares, the short-interest ratio is presently 3.3 days.
In other news, CEO Anthony Guzzi sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.04, for a total transaction of $445,200.00. Following the transaction, the chief executive officer now owns 354,146 shares in the company, valued at $31,533,159.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC boosted its position in shares of Emcor Group by 68.1% during the 3rd quarter. Penserra Capital Management LLC now owns 585 shares of the construction company’s stock valued at $50,000 after purchasing an additional 237 shares in the last quarter. Wealthcare Capital Management LLC bought a new position in Emcor Group in the third quarter worth approximately $53,000. Huntington National Bank boosted its holdings in Emcor Group by 179.4% in the third quarter. Huntington National Bank now owns 623 shares of the construction company’s stock worth $54,000 after acquiring an additional 400 shares in the last quarter. Usca Ria LLC bought a new position in Emcor Group in the third quarter worth approximately $83,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Emcor Group by 30.8% in the third quarter. Tower Research Capital LLC TRC now owns 1,122 shares of the construction company’s stock worth $97,000 after acquiring an additional 264 shares in the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.
Emcor Group (NYSE:EME) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. Emcor Group had a return on equity of 17.11% and a net margin of 3.51%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that Emcor Group will post 5.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.08 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.37%. Emcor Group’s payout ratio is presently 6.52%.
A number of equities analysts have commented on the company. ValuEngine lowered Emcor Group from a “sell” rating to a “strong sell” rating in a research note on Friday, January 3rd. Maxim Group restated a “hold” rating and set a $95.00 price objective on shares of Emcor Group in a research report on Thursday, October 31st. Finally, DA Davidson upped their price objective on Emcor Group to $107.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $98.50.
Emcor Group Company 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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