BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 31,534 Shares of EMCOR Group, Inc. (NYSE:EME)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 46.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,814 shares of the construction company’s stock after purchasing an additional 31,534 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.21% of EMCOR Group worth $36,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Matrix Trust Co bought a new stake in shares of EMCOR Group during the second quarter worth $26,000. Proffitt & Goodson Inc. acquired a new position in shares of EMCOR Group in the second quarter valued at approximately $27,000. Innealta Capital LLC bought a new position in EMCOR Group in the 2nd quarter valued at approximately $29,000. ORG Partners LLC acquired a new stake in EMCOR Group during the 2nd quarter worth approximately $31,000. Finally, Independence Bank of Kentucky bought a new stake in EMCOR Group during the 1st quarter worth approximately $33,000. 92.59% of the stock is currently 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 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 transaction, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Friday. 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 report on Friday, July 26th.

EMCOR Group Stock Performance

NYSE:EME opened at $435.45 on Tuesday. The company has a market capitalization of $20.46 billion, a PE ratio of 28.72 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 $441.89. The company has a 50 day simple moving average of $374.20 and a two-hundred day simple moving average of $367.46.

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

EMCOR Group declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were given 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 dividend yield of 0.23%. EMCOR Group’s payout ratio is 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.