Hancock Whitney Corp Lowers Stock Position in EMCOR Group, Inc. (NYSE:EME)

Hancock Whitney Corp lessened its stake in EMCOR Group, Inc. (NYSE:EME) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,061 shares of the construction company’s stock after selling 1,710 shares during the period. EMCOR Group makes up about 0.7% of Hancock Whitney Corp’s holdings, making the stock its 28th biggest holding. Hancock Whitney Corp owned 0.12% of EMCOR Group worth $20,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Matrix Trust Co purchased a new position in shares of EMCOR Group during the 2nd quarter valued at about $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group during the second quarter worth approximately $27,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $29,000. ORG Partners LLC purchased a new stake in shares of EMCOR Group in the 2nd quarter valued at $31,000. Finally, Independence Bank of Kentucky bought a new position in shares of EMCOR Group during the 1st quarter valued at $33,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

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

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the prior 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. Research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current year.

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

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were issued a dividend of $0.25 per share. 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 presently 6.60%.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the 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 in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EME. StockNews.com downgraded shares of 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 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.