Benjamin F. Edwards & Company Inc. Cuts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Benjamin F. Edwards & Company Inc. trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 50.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 605 shares of the construction company’s stock after selling 611 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in EMCOR Group were worth $221,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after acquiring an additional 139,919 shares in the last quarter. Panagora Asset Management Inc. increased its holdings 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 worth $75,668,000 after acquiring an additional 126,148 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in EMCOR Group in the 4th quarter worth $25,938,000. Renaissance Technologies LLC increased its holdings in 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in 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 worth $36,978,000 after acquiring an additional 91,837 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 0.4 %

Shares of EME opened at $435.23 on Thursday. EMCOR Group, Inc. has a 52-week low of $191.50 and a 52-week high of $442.15. The firm’s fifty day moving average is $376.53 and its two-hundred day moving average is $368.69. The stock has a market cap of $20.45 billion, a PE ratio of 28.71 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company 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 company posted $2.95 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. EMCOR Group’s payout ratio is 6.60%.

EMCOR Group declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

EME has been the subject of several recent analyst reports. DA Davidson boosted their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were 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 approximately $3,202,513.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.26% of the company’s stock.

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.