Park Place Capital Corp Sells 167 Shares of EMCOR Group, Inc. (NYSE:EME)

Park Place Capital Corp reduced its position in EMCOR Group, Inc. (NYSE:EME) by 35.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 301 shares of the construction company’s stock after selling 167 shares during the period. Park Place Capital Corp’s holdings in EMCOR Group were worth $130,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Callan Family Office LLC raised its position in shares of EMCOR Group by 17.0% in the 3rd quarter. Callan Family Office LLC now owns 1,266 shares of the construction company’s stock valued at $545,000 after purchasing an additional 184 shares during the last quarter. City Center Advisors LLC purchased a new position in shares of EMCOR Group in the 3rd quarter valued at approximately $422,000. Parisi Gray Wealth Management purchased a new position in shares of EMCOR Group in the 3rd quarter valued at approximately $215,000. GAMMA Investing LLC raised its position in shares of EMCOR Group by 33.8% in the 3rd quarter. GAMMA Investing LLC now owns 459 shares of the construction company’s stock valued at $198,000 after purchasing an additional 116 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of EMCOR Group by 12.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 12,616 shares of the construction company’s stock valued at $5,432,000 after purchasing an additional 1,400 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group 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 owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Trading Down 0.1 %

EME opened at $439.76 on Wednesday. EMCOR Group, Inc. has a 12-month low of $191.50 and a 12-month high of $445.65. The firm has a market capitalization of $20.67 billion, a PE ratio of 29.01 and a beta of 1.07. The firm has a 50 day moving average of $388.92 and a two-hundred day moving average of $375.36.

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

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EME shares. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. DA Davidson increased their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

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.