Optimum Investment Advisors Purchases New Position in EMCOR Group, Inc. (NYSE:EME)

Optimum Investment Advisors acquired a new stake in EMCOR Group, Inc. (NYSE:EME) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 275 shares of the construction company’s stock, valued at approximately $96,000.

Several other hedge funds have also recently modified their holdings of EME. Allworth Financial LP lifted its holdings in shares of EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after purchasing an additional 62 shares during the period. CVA Family Office LLC purchased a new position in EMCOR Group in the fourth quarter worth $39,000. Evermay Wealth Management LLC purchased a new position in EMCOR Group in the fourth quarter worth $39,000. Rise Advisors LLC purchased a new position in EMCOR Group in the first quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in EMCOR Group by 182.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 195 shares of the construction company’s stock worth $42,000 after acquiring an additional 126 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Down 1.2 %

Shares of EME stock opened at $381.27 on Friday. EMCOR Group, Inc. has a fifty-two week low of $174.01 and a fifty-two week high of $401.98. The stock has a market cap of $17.92 billion, a P/E ratio of 25.15 and a beta of 1.08. The business has a fifty day simple moving average of $371.98 and a 200-day simple moving average of $303.92.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The business had revenue of $3.43 billion during the quarter. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 16.1 earnings per share for the current year.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “buy” rating and issued a $375.00 price objective on shares of EMCOR Group in a research report on Friday, March 22nd.

Insider Activity at EMCOR Group

In related news, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the sale, the director now owns 16,807 shares of the company’s stock, valued at $6,289,683.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

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.