BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 31,534 Shares of EMCOR Group, Inc. (NYSE:EME)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of EMCOR Group, Inc. (NYSE:EME) by 46.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,814 shares of the construction company’s stock after acquiring an additional 31,534 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in EMCOR Group were worth $36,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EME. Burgundy Asset Management Ltd. grew its position in EMCOR Group by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after purchasing an additional 11,479 shares during the period. Acadian Asset Management LLC grew its holdings in shares of EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock valued at $192,028,000 after buying an additional 134,575 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of EMCOR Group by 20.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock worth $152,170,000 after acquiring an additional 73,975 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after acquiring an additional 116,300 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in EMCOR Group by 155.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after acquiring an additional 126,148 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EME has been the subject of a number of recent research reports. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday. DA Davidson increased their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th.

EMCOR Group Stock Down 0.0 %

Shares of NYSE EME opened at $435.45 on Tuesday. The company has a market capitalization of $20.46 billion, a PE ratio of 28.72 and a beta of 1.07. The stock’s 50 day moving average price is $374.20 and its 200-day moving average price is $367.46. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $441.89.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share 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 analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were issued 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 dividend payout ratio (DPR) is presently 6.60%.

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

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.