Meiji Yasuda Asset Management Co Ltd. Has $673,000 Stake in EMCOR Group, Inc. (NYSE:EME)

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 53.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,844 shares of the construction company’s stock after purchasing an additional 639 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in EMCOR Group were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EME. Matrix Trust Co bought a new position in EMCOR Group during the 2nd quarter worth $26,000. Proffitt & Goodson Inc. acquired a new position in shares of EMCOR Group in the second quarter valued at about $27,000. Innealta Capital LLC bought a new position in EMCOR Group during the second quarter worth about $29,000. ORG Partners LLC acquired a new stake in EMCOR Group in the 2nd quarter worth about $31,000. Finally, Independence Bank of Kentucky bought a new stake in EMCOR Group in the 1st quarter valued at about $33,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday. DA Davidson raised 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.

Insider Activity

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, 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 SEC, which is available through this link. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Stock Up 1.3 %

EME stock 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 business has a 50-day simple moving average of $373.10 and a 200 day simple moving average of $366.11. The company 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 earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. On average, analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders 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 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

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

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.