Scalar Gauge Management LLC Has $8.94 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Scalar Gauge Management LLC cut its position in shares of EMCOR Group, Inc. (NYSE:EME) by 12.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,500 shares of the construction company’s stock after selling 3,500 shares during the period. EMCOR Group comprises about 5.2% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 4th largest position. Scalar Gauge Management LLC owned about 0.05% of EMCOR Group worth $8,944,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EME. Avantax Advisory Services Inc. bought a new position in shares of EMCOR Group during the 4th quarter worth about $219,000. Janney Montgomery Scott LLC boosted its holdings in EMCOR Group by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,158 shares of the construction company’s stock valued at $1,542,000 after purchasing an additional 85 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of EMCOR Group by 449.5% in the 4th quarter. Corient Private Wealth LLC now owns 10,511 shares of the construction company’s stock valued at $2,264,000 after purchasing an additional 8,598 shares during the period. Quest Partners LLC acquired a new position in shares of EMCOR Group in the 4th quarter worth approximately $275,000. Finally, Assetmark Inc. lifted its position in shares of EMCOR Group by 43.2% during the 4th quarter. Assetmark Inc. now owns 5,606 shares of the construction company’s stock worth $1,208,000 after buying an additional 1,690 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Trading Down 0.0 %

Shares of EMCOR Group stock opened at $435.45 on Tuesday. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 28.72 and a beta of 1.07. The firm’s 50-day moving average price is $374.20 and its two-hundred day moving average price is $367.46. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $441.89.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the business earned $2.95 EPS. EMCOR Group’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group declared that its board has initiated a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on EME. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday. DA Davidson boosted their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’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 directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.26% of the company’s stock.

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.