ProShare Advisors LLC lessened its stake in EMCOR Group, Inc. (NYSE:EME) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,552 shares of the construction company’s stock after selling 437 shares during the period. ProShare Advisors LLC’s holdings in EMCOR Group were worth $2,285,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new stake in shares of EMCOR Group during the 2nd quarter valued at $34,000. Van ECK Associates Corp bought a new stake in shares of EMCOR Group during the 1st quarter valued at $36,000. Quantbot Technologies LP bought a new position in EMCOR Group in the 1st quarter worth $42,000. Eagle Bay Advisors LLC bought a new position in EMCOR Group in the 2nd quarter worth $58,000. Finally, Engine Capital Management LP bought a new position in EMCOR Group in the 1st quarter worth $67,000. 93.66% of the stock is owned by institutional investors and hedge funds.
Shares of EME stock opened at $116.17 on Thursday. The stock has a market cap of $6.24 billion, a P/E ratio of 19.76 and a beta of 1.22. EMCOR Group, Inc. has a 52 week low of $63.69 and a 52 week high of $129.45. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $118.88 and its two-hundred day simple moving average is $120.52.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Friday, October 15th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Thursday, October 14th. EMCOR Group’s payout ratio is currently 8.13%.
Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of EMCOR Group from a “buy” rating to a “hold” rating and set a $126.00 target price for the company. in a report on Monday, August 23rd. DA Davidson upped their target price on shares of EMCOR Group from $115.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, July 30th. They noted that the move was a valuation call.
In other EMCOR Group news, CEO Anthony Guzzi sold 13,247 shares of the business’s stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $118.04, for a total value of $1,563,675.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by insiders.
About EMCOR Group
EMCOR Group, Inc engages in the provision of electrical and mechanical construction and facilities services. It operates through the following segments: Unites 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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