Short Interest in EMCOR Group, Inc. (NYSE:EME) Declines By 7.8%

EMCOR Group, Inc. (NYSE:EME) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 950,000 shares, a drop of 7.8% from the August 31st total of 1,030,000 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 416,900 shares, the short-interest ratio is presently 2.3 days.

Insider Buying and Selling

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 shares were 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 owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On EMCOR Group

Large investors have recently bought and sold shares of the stock. Matrix Trust Co acquired a new stake in EMCOR Group in the second quarter valued at approximately $26,000. Proffitt & Goodson Inc. acquired a new position in EMCOR Group in the second quarter valued at $27,000. Innealta Capital LLC purchased a new position in EMCOR Group during the 2nd quarter worth approximately $29,000. ORG Partners LLC purchased a new position in shares of EMCOR Group during the second quarter worth approximately $31,000. Finally, Independence Bank of Kentucky acquired a new position in EMCOR Group in the first quarter valued at $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of EME stock traded down $2.25 on Tuesday, hitting $428.28. The stock had a trading volume of 274,191 shares, compared to its average volume of 446,751. The company’s 50 day moving average price is $380.19 and its 200-day moving average price is $371.26. EMCOR Group has a 1 year low of $191.50 and a 1 year high of $443.96. The firm has a market capitalization of $20.13 billion, a P/E ratio of 28.25 and a beta of 1.07.

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

EMCOR Group declared that its board has approved a stock buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EME. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. DA Davidson upped their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

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.