EMCOR Group, Inc. (NYSE:EME) Shares Purchased by Creative Planning

Creative Planning raised its position in EMCOR Group, Inc. (NYSE:EME) by 12.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,435 shares of the construction company’s stock after buying an additional 1,012 shares during the quarter. Creative Planning’s holdings in EMCOR Group were worth $3,445,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of EME. Matrix Trust Co purchased a new stake in shares of EMCOR Group in the second quarter valued at about $26,000. Proffitt & Goodson Inc. acquired a new position in EMCOR Group during the 2nd quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in shares of EMCOR Group during the 2nd quarter worth approximately $29,000. ORG Partners LLC acquired a new stake in shares of EMCOR Group in the 2nd quarter valued at approximately $31,000. Finally, Independence Bank of Kentucky acquired a new stake in shares of EMCOR Group in the 1st quarter valued at approximately $33,000. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Trading Up 1.0 %

EME stock opened at $435.14 on Friday. The company has a market cap of $20.45 billion, a price-to-earnings ratio of 28.70 and a beta of 1.07. The firm has a 50 day moving average of $385.74 and a 200-day moving average of $373.50. EMCOR Group, Inc. has a 12-month low of $191.50 and a 12-month high of $443.96.

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

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th will be given 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 is Tuesday, October 15th. EMCOR Group’s payout ratio is currently 6.60%.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 28th.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by company insiders.

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.