Ashton Thomas Private Wealth LLC Acquires New Holdings in EMCOR Group, Inc. (NYSE:EME)

Ashton Thomas Private Wealth LLC bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 174 shares of the construction company’s stock, valued at approximately $64,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in EMCOR Group during the 4th quarter worth $153,739,000. Acadian Asset Management LLC grew its holdings in shares of EMCOR Group by 55.6% during the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after purchasing an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of EMCOR Group by 155.5% during the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after purchasing an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of EMCOR Group in the fourth quarter valued at approximately $25,938,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in EMCOR Group by 971.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after buying an additional 91,837 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction 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 sale, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, DA Davidson boosted their target price 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.

EMCOR Group Trading Up 2.0 %

Shares of EME opened at $396.42 on Friday. The company has a market capitalization of $18.50 billion, a PE ratio of 26.15 and a beta of 1.07. The stock’s 50-day moving average price is $368.41 and its two-hundred day moving average price is $362.91. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $401.98.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. The company 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 firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 earnings per share. Equities research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has initiated a share repurchase plan on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 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.