EMCOR Group, Inc. (NYSE:EME) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 11.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,593 shares of the construction company’s stock after acquiring an additional 7,216 shares during the period. Thrivent Financial for Lutherans owned about 0.15% of EMCOR Group worth $25,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC grew its stake in EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after purchasing an additional 139,919 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after buying an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in EMCOR Group in the fourth quarter valued at $25,938,000. Renaissance Technologies LLC boosted its stake in EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after acquiring an additional 116,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in EMCOR Group by 971.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after acquiring an additional 91,837 shares in the last quarter. 92.59% of the stock is 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 business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of 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 downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $435.45 on Tuesday. The company’s fifty day moving average is $374.20 and its two-hundred 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. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 28.72 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. The firm had revenue of $3.67 billion for 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%. EMCOR Group’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $2.95 earnings per share. Sell-side analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has initiated a stock buyback program on Friday, June 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s payout ratio is currently 6.60%.

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.