EMCOR Group, Inc. (NYSE:EME) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 50.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,977 shares of the construction company’s stock after acquiring an additional 10,030 shares during the period. Ensign Peak Advisors Inc owned approximately 0.06% of EMCOR Group worth $10,944,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in EMCOR Group by 89.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock worth $7,595,000 after acquiring an additional 10,269 shares during the period. Hennessy Advisors Inc. grew its holdings in EMCOR Group by 18.9% in the first quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock valued at $50,114,000 after purchasing an additional 22,700 shares during the last quarter. BNP Paribas Financial Markets grew 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 purchasing an additional 49,346 shares during the last quarter. Wellington Management Group LLP acquired a new stake in EMCOR Group in the fourth quarter valued at $9,565,000. Finally, BTC Capital Management Inc. acquired a new stake in EMCOR Group in the first quarter valued at $701,000. Institutional investors and hedge funds 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 stock in a transaction dated Monday, July 29th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EME shares. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. DA Davidson upped their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th.

EMCOR Group Stock Down 0.4 %

EME opened at $433.27 on Wednesday. The firm has a market cap of $20.36 billion, a P/E ratio of 28.58 and a beta of 1.07. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $441.89. The business’s fifty day simple moving average is $375.05 and its 200 day simple moving average is $368.22.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.95 earnings per share. As a group, equities analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group declared that its board has authorized a stock buyback program on Friday, June 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s payout ratio is currently 6.60%.

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.