Magnetar Financial LLC Purchases New Position in EMCOR Group, Inc. (NYSE:EME)

Magnetar Financial LLC bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,880 shares of the construction company’s stock, valued at approximately $2,877,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new position in EMCOR Group during the second quarter valued at approximately $26,000. Proffitt & Goodson Inc. bought a new position in shares of EMCOR Group during the second quarter valued at $27,000. Innealta Capital LLC bought a new position in shares of EMCOR Group during the second quarter valued at $29,000. ORG Partners LLC bought a new position in shares of EMCOR Group during the second quarter valued at $31,000. Finally, Independence Bank of Kentucky bought a new position in shares of EMCOR Group during the first quarter valued at $33,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EME shares. DA Davidson raised 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. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday.

EMCOR Group Trading Down 0.0 %

Shares of EME opened at $435.45 on Tuesday. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $441.89. The stock has a market cap of $20.46 billion, a P/E ratio of 28.72 and a beta of 1.07. The stock’s 50-day moving average price is $374.20 and its two-hundred day moving average price is $367.46.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the business earned $2.95 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

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

Insider Activity

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’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 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 Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is currently owned by company insiders.

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.