EMCOR Group, Inc. (NYSE:EME) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV reduced its stake in EMCOR Group, Inc. (NYSE:EME) by 4.0% during the 2nd quarter, Holdings Channel reports. The fund owned 4,359 shares of the construction company’s stock after selling 181 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in EMCOR Group were worth $1,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EME. Janney Montgomery Scott LLC raised its stake in EMCOR Group by 1.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,158 shares of the construction company’s stock valued at $1,542,000 after buying an additional 85 shares in the last quarter. Corient Private Wealth LLC raised its stake in EMCOR Group by 449.5% in the fourth quarter. Corient Private Wealth LLC now owns 10,511 shares of the construction company’s stock valued at $2,264,000 after buying an additional 8,598 shares in the last quarter. Franklin Resources Inc. raised its stake in EMCOR Group by 20.8% in the fourth quarter. Franklin Resources Inc. now owns 81,282 shares of the construction company’s stock valued at $17,511,000 after buying an additional 14,018 shares in the last quarter. Commerce Bank raised its stake in EMCOR Group by 84.1% in the fourth quarter. Commerce Bank now owns 2,739 shares of the construction company’s stock valued at $590,000 after buying an additional 1,251 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in EMCOR Group by 5.2% in the fourth quarter. Advisory Services Network LLC now owns 6,920 shares of the construction company’s stock valued at $1,491,000 after buying an additional 344 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EME shares. DA Davidson raised their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th.

EMCOR Group Stock Performance

EME opened at $433.27 on Wednesday. The business’s 50-day simple moving average is $375.05 and its 200-day simple moving average is $368.22. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $441.89. The stock has a market capitalization of $20.36 billion, a P/E ratio of 28.58 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. On average, equities research analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group declared that its board has initiated a share buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is currently 6.60%.

EMCOR Group 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.