Vanguard Personalized Indexing Management LLC Acquires 620 Shares of EMCOR Group, Inc. (NYSE:EME)

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,886 shares of the construction company’s stock after acquiring an additional 620 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in EMCOR Group were worth $2,477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EME. Norges Bank acquired a new position in shares of EMCOR Group during the fourth quarter worth $153,739,000. Acadian Asset Management LLC raised its position in EMCOR Group by 55.6% during the 1st 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. lifted its holdings in EMCOR Group by 155.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after buying an additional 126,148 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of EMCOR Group in the 4th quarter valued at about $25,938,000. Finally, Renaissance Technologies LLC increased its stake in shares of EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after buying an additional 116,300 shares during the period. 92.59% of the stock is owned by institutional investors.

Insider Activity

In other EMCOR Group 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 stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of 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 available at this hyperlink. Company insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the topic of a number of recent analyst reports. DA Davidson lifted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Friday.

EMCOR Group Trading Up 1.3 %

EME stock opened at $435.69 on Friday. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $437.10. The stock has a 50-day moving average price of $373.10 and a 200-day moving average price of $366.11. The firm has a market cap of $20.48 billion, a PE ratio of 28.74 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $1.49. The firm 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 company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 earnings per share. On average, analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group announced that its board has authorized a share buyback program on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is currently 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.