Inspire Investing LLC Sells 3,489 Shares of EMCOR Group, Inc. (NYSE:EME)

Inspire Investing LLC decreased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,384 shares of the construction company’s stock after selling 3,489 shares during the period. EMCOR Group makes up 0.7% of Inspire Investing LLC’s investment portfolio, making the stock its 20th largest holding. Inspire Investing LLC’s holdings in EMCOR Group were worth $5,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in EMCOR Group in the fourth quarter worth about $153,739,000. Acadian Asset Management LLC lifted its stake 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 during the period. Panagora Asset Management Inc. boosted its position in shares of EMCOR Group by 155.5% during the second 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 in the last quarter. Hennessy Advisors Inc. purchased a new stake in EMCOR Group in the fourth quarter worth $25,938,000. Finally, Renaissance Technologies LLC raised its holdings in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson increased 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.

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s 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 approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.26% of the stock is owned by insiders.

EMCOR Group Stock Down 0.1 %

Shares of EME opened at $408.81 on Thursday. The stock has a market cap of $19.21 billion, a P/E ratio of 26.97 and a beta of 1.07. The business’s 50 day moving average price is $370.82 and its 200-day moving average price is $364.88. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $417.78.

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

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s payout ratio is 6.60%.

EMCOR Group declared that its board has authorized a stock repurchase plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

About EMCOR Group

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.