Oppenheimer & Co. Inc. Sells 801 Shares of EMCOR Group, Inc. (NYSE:EME)

Oppenheimer & Co. Inc. cut its position in EMCOR Group, Inc. (NYSE:EME) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,971 shares of the construction company’s stock after selling 801 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in EMCOR Group were worth $3,640,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Matrix Trust Co bought a new stake in shares of EMCOR Group during the 2nd quarter valued at $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group during the 2nd quarter valued at $27,000. V Square Quantitative Management LLC bought a new stake in shares of EMCOR Group during the 1st quarter valued at $28,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group during the 2nd quarter valued at $29,000. Finally, ORG Partners LLC bought a new stake in shares of EMCOR Group during the 2nd quarter valued at $31,000. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson boosted their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.26% of the company’s stock.

EMCOR Group Stock Up 2.0 %

EMCOR Group stock opened at $396.42 on Monday. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98. The business has a 50-day simple moving average of $368.41 and a 200 day simple moving average of $363.31. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 26.15 and a beta of 1.07.

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

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s payout ratio is currently 6.60%.

EMCOR Group declared that its board has initiated a share repurchase program on Friday, June 7th that permits the company to repurchase $500.00 million in 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 often a sign that the company’s management believes its shares are undervalued.

About EMCOR Group

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.