Calamos Advisors LLC Decreases Position in EMCOR Group, Inc. (NYSE:EME)

Calamos Advisors LLC lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 6.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,399 shares of the construction company’s stock after selling 227 shares during the quarter. Calamos Advisors LLC’s holdings in EMCOR Group were worth $1,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of EMCOR Group in the 4th quarter valued at $153,739,000. TimesSquare Capital Management LLC raised its holdings in shares of EMCOR Group by 93.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock valued at $91,791,000 after purchasing an additional 205,793 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of EMCOR Group by 55.6% in 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. Hennessy Advisors Inc. acquired a new stake in shares of EMCOR Group in the 4th quarter valued at $25,938,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of EMCOR Group by 971.8% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the 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 sale, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the completion of the sale, the director now directly owns 16,807 shares in the company, valued at approximately $6,289,683.61. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, DA Davidson lifted their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Stock Up 2.6 %

Shares of NYSE:EME opened at $382.30 on Monday. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 25.22 and a beta of 1.06. The firm’s 50-day simple moving average is $367.83 and its 200-day simple moving average is $350.88. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $401.98.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.76 by $1.49. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 earnings per share. On average, research analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently declared 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. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

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.