Axxcess Wealth Management LLC Boosts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Axxcess Wealth Management LLC boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 54.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,380 shares of the construction company’s stock after purchasing an additional 488 shares during the period. Axxcess Wealth Management LLC’s holdings in EMCOR Group were worth $504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Matrix Trust Co bought a new stake in shares of EMCOR Group in the second quarter valued at $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group in the second quarter valued at $27,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group in the second quarter valued at $29,000. ORG Partners LLC bought a new stake in shares of EMCOR Group in the second quarter valued at $31,000. Finally, Independence Bank of Kentucky bought a new stake in shares of EMCOR Group in the first quarter valued at $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

EME has been the topic of several research reports. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Friday. DA Davidson boosted their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Stock Performance

NYSE:EME opened at $435.69 on Friday. EMCOR Group, Inc. has a 52-week low of $191.50 and a 52-week high of $437.10. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 28.74 and a beta of 1.07. The business’s fifty day moving average is $373.10 and its 200 day moving average is $366.11.

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

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a $0.25 dividend. The ex-dividend date was Monday, July 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%.

EMCOR Group declared that its Board of Directors has authorized a share repurchase 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 purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other EMCOR Group 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 transaction, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

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.