Healthcare of Ontario Pension Plan Trust Fund Purchases 26,309 Shares of EMCOR Group, Inc. (NYSE:EME)

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 4,451.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,900 shares of the construction company’s stock after buying an additional 26,309 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of EMCOR Group worth $9,821,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Matrix Trust Co bought a new stake in shares of EMCOR Group during the 2nd quarter worth $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group during the 2nd quarter worth $27,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group during the 2nd quarter worth $29,000. ORG Partners LLC bought a new stake in shares of EMCOR Group during the 2nd quarter worth $31,000. Finally, Independence Bank of Kentucky bought a new stake in shares of EMCOR Group during the 1st quarter worth $33,000. 92.59% of the stock is owned by institutional investors.

EMCOR Group Trading Up 1.0 %

Shares of EMCOR Group stock opened at $435.14 on Friday. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 28.70 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $443.96. The firm’s 50-day moving average price is $385.74 and its two-hundred day moving average price is $373.50.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 earnings per share. 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 announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s payout ratio is 6.60%.

EMCOR Group announced that its board has authorized a stock 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 repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

EME has been the subject of several recent analyst reports. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 28th. DA Davidson boosted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Insider Transactions at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.26% of the stock is 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.