CIBC Asset Management Inc Grows Stake in EMCOR Group, Inc. (NYSE:EME)

CIBC Asset Management Inc increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,320 shares of the construction company’s stock after purchasing an additional 73 shares during the quarter. CIBC Asset Management Inc’s holdings in EMCOR Group were worth $482,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Matrix Trust Co purchased a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group in the second quarter valued at $27,000. V Square Quantitative Management LLC acquired a new position in EMCOR Group in the first quarter valued at $28,000. Innealta Capital LLC purchased a new position in shares of EMCOR Group during the second quarter worth about $29,000. Finally, ORG Partners LLC acquired a new stake in shares of EMCOR Group during the second quarter worth about $31,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the transaction, the director now directly owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

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

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $352.88 on Friday. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 23.28 and a beta of 1.07. The firm’s fifty day simple moving average is $366.75 and its 200-day simple moving average is $358.16. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $401.98.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating 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 business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. Analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

EMCOR Group Profile

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.