Intech Investment Management LLC Takes Position in EMCOR Group, Inc. (NYSE:EME)

Intech Investment Management LLC acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 45,908 shares of the construction company’s stock, valued at approximately $16,760,000. Intech Investment Management LLC owned approximately 0.10% of EMCOR Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EME. Matrix Trust Co purchased a new position in EMCOR Group during the second quarter worth approximately $26,000. Proffitt & Goodson Inc. purchased a new position in EMCOR Group during the second quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in EMCOR Group during the second quarter worth approximately $29,000. ORG Partners LLC acquired a new stake in EMCOR Group during the second quarter worth $31,000. Finally, Independence Bank of Kentucky acquired a new stake in EMCOR Group during the first quarter worth $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

EMCOR Group Stock Up 5.2 %

EME stock opened at $430.07 on Friday. EMCOR Group, Inc. has a 52-week low of $191.50 and a 52-week high of $432.88. The business has a fifty day moving average of $371.92 and a two-hundred day moving average of $365.34. The stock has a market cap of $20.21 billion, a price-to-earnings ratio of 28.37 and a beta of 1.07.

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

EMCOR Group declared that its board has approved a stock buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors 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 dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.23%. EMCOR Group’s payout ratio is 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.