Paradigm Capital Management Inc. NY Has $12.92 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Paradigm Capital Management Inc. NY lowered its position in EMCOR Group, Inc. (NYSE:EME) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,375 shares of the construction company’s stock after selling 2,050 shares during the quarter. Paradigm Capital Management Inc. NY owned approximately 0.08% of EMCOR Group worth $12,915,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EME. Acadian Asset Management LLC lifted its position in shares of EMCOR Group by 55.6% in the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after buying an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in EMCOR Group by 155.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after purchasing an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. bought a new position in EMCOR Group during the fourth quarter worth $25,938,000. Renaissance Technologies LLC increased its holdings in shares of EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after purchasing an additional 91,837 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group 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 transaction, 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 legal filing with the SEC, which is available through this hyperlink. 1.26% of the stock is owned by company insiders.

EMCOR Group Trading Down 0.0 %

Shares of EMCOR Group stock opened at $435.45 on Tuesday. The firm has a market capitalization of $20.46 billion, a PE ratio of 28.72 and a beta of 1.07. The firm’s 50 day moving average is $374.20 and its 200 day moving average is $367.46. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $441.89.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the business earned $2.95 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group declared that its Board of Directors has initiated 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 purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group 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.