Holderness Investments Co. Boosts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Holderness Investments Co. increased its stake in EMCOR Group, Inc. (NYSE:EME) by 37.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,674 shares of the construction company’s stock after acquiring an additional 459 shares during the period. Holderness Investments Co.’s holdings in EMCOR Group were worth $611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. purchased a new position in shares of EMCOR Group in the 4th quarter valued at about $219,000. Janney Montgomery Scott LLC raised its holdings in EMCOR Group by 1.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,158 shares of the construction company’s stock valued at $1,542,000 after acquiring an additional 85 shares in the last quarter. Corient Private Wealth LLC grew its holdings in EMCOR Group by 449.5% during the 4th quarter. Corient Private Wealth LLC now owns 10,511 shares of the construction company’s stock worth $2,264,000 after acquiring an additional 8,598 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of EMCOR Group in the 4th quarter valued at approximately $275,000. Finally, Assetmark Inc. increased its position in shares of EMCOR Group by 43.2% in the 4th quarter. Assetmark Inc. now owns 5,606 shares of the construction company’s stock valued at $1,208,000 after purchasing an additional 1,690 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Trading Up 1.3 %

EME stock opened at $435.60 on Friday. The stock has a market cap of $20.47 billion, a P/E ratio of 28.73 and a beta of 1.07. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $437.10. The company’s 50 day moving average is $373.10 and its two-hundred day moving average is $366.40.

EMCOR Group (NYSE:EME) last announced its quarterly 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 net margin of 6.01% and a return on equity of 32.73%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the business earned $2.95 EPS. EMCOR Group’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group declared that its board has approved a share repurchase plan on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were paid 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%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EME shares. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday. DA Davidson lifted their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

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.