Amalgamated Bank Has $8.75 Million Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Amalgamated Bank decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,963 shares of the construction company’s stock after selling 7,536 shares during the quarter. Amalgamated Bank owned approximately 0.05% of EMCOR Group worth $8,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC lifted its position in shares of EMCOR Group by 8.1% in the first quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock worth $160,000 after buying an additional 34 shares during the last quarter. GAMMA Investing LLC lifted its holdings in EMCOR Group by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock worth $84,000 after purchasing an additional 35 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in EMCOR Group by 2.2% during the second quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock worth $787,000 after purchasing an additional 46 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in EMCOR Group by 30.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock valued at $73,000 after purchasing an additional 47 shares during the last quarter. Finally, Cooper Financial Group raised its position in shares of EMCOR Group by 3.7% in the second quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock valued at $485,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

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

EMCOR Group Stock Performance

EMCOR Group stock opened at $408.81 on Thursday. The business’s 50-day simple moving average is $370.82 and its 200-day simple moving average is $364.88. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $417.78. The firm has a market capitalization of $19.21 billion, a PE ratio of 26.97 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 EPS. Research analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group announced that its board has authorized a share buyback plan on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s payout ratio is presently 6.60%.

Analyst Upgrades and Downgrades

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

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.