10,400 Shares in EMCOR Group, Inc. (NYSE:EME) Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ acquired a new position in EMCOR Group, Inc. (NYSE:EME) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,400 shares of the construction company’s stock, valued at approximately $3,797,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in EMCOR Group by 89.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock valued at $7,595,000 after acquiring an additional 10,269 shares during the last quarter. Hennessy Advisors Inc. grew its stake in EMCOR Group by 18.9% in the first quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock worth $50,114,000 after purchasing an additional 22,700 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in EMCOR Group by 92.8% in the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock valued at $35,901,000 after buying an additional 49,346 shares during the last quarter. Wellington Management Group LLP acquired a new stake in EMCOR Group during the fourth quarter valued at approximately $9,565,000. Finally, BTC Capital Management Inc. bought a new position in EMCOR Group during the first quarter worth $701,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 1.3 %

Shares of NYSE:EME opened at $435.60 on Monday. The company’s 50-day moving average price is $373.10 and its 200 day moving average price is $366.69. The company has a market cap of $20.47 billion, a PE ratio of 28.73 and a beta of 1.07. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $437.10.

EMCOR Group (NYSE:EME) last released its quarterly earnings results 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 company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

EMCOR Group announced that its board has approved a share buyback program on Friday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

EME has been the topic of several research reports. DA Davidson increased their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday.

Insider Transactions at EMCOR Group

In related 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 shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now owns 8,637 shares in the company, valued at $3,202,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.26% of the company’s stock.

EMCOR Group Company 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.