EMCOR Group, Inc. (NYSE:EME) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 55.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,469 shares of the construction company’s stock after selling 10,586 shares during the period. Van ECK Associates Corp’s holdings in EMCOR Group were worth $3,092,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EME. Truist Financial Corp grew its holdings in EMCOR Group by 12.0% during the 4th quarter. Truist Financial Corp now owns 11,220 shares of the construction company’s stock worth $2,417,000 after acquiring an additional 1,201 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in EMCOR Group by 182.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 195 shares of the construction company’s stock worth $42,000 after acquiring an additional 126 shares in the last quarter. National Bank of Canada FI grew its holdings in EMCOR Group by 3,322.5% during the 4th quarter. National Bank of Canada FI now owns 5,784 shares of the construction company’s stock worth $1,231,000 after acquiring an additional 5,615 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in EMCOR Group by 374.4% during the 4th quarter. Apollon Wealth Management LLC now owns 5,897 shares of the construction company’s stock worth $1,270,000 after acquiring an additional 4,654 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in EMCOR Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 356,877 shares of the construction company’s stock worth $76,882,000 after acquiring an additional 7,241 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, DA Davidson raised their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.26% of the stock is currently owned by insiders.

EMCOR Group Stock Performance

EMCOR Group stock opened at $353.44 on Friday. The firm’s 50-day moving average is $367.33 and its 200-day moving average is $357.50. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $401.98. The company has a market cap of $16.61 billion, a P/E ratio of 23.19 and a beta of 1.06.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the firm posted $2.95 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.28%. EMCOR Group’s dividend payout ratio is presently 6.60%.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.