Cim Investment Management Inc. Cuts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Cim Investment Management Inc. cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 19.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 994 shares of the construction company’s stock after selling 237 shares during the quarter. Cim Investment Management Inc.’s holdings in EMCOR Group were worth $363,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EME. Wealth Enhancement Advisory Services LLC lifted its holdings in EMCOR Group by 89.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock worth $7,595,000 after purchasing an additional 10,269 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of EMCOR Group by 18.9% in the first quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock worth $50,114,000 after buying an additional 22,700 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of EMCOR Group by 92.8% during the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock worth $35,901,000 after acquiring an additional 49,346 shares during the last quarter. Wellington Management Group LLP purchased a new position in EMCOR Group during the fourth quarter valued at $9,565,000. Finally, BTC Capital Management Inc. bought a new stake in EMCOR Group in the 1st quarter valued at $701,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group 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 completion of the transaction, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by insiders.

EMCOR Group Stock Down 0.5 %

EMCOR Group stock opened at $427.29 on Friday. EMCOR Group, Inc. has a 52-week low of $191.50 and a 52-week high of $443.96. The company has a market cap of $20.08 billion, a price-to-earnings ratio of 28.19 and a beta of 1.07. The firm’s fifty day moving average is $377.82 and its 200 day moving average is $369.11.

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

EMCOR Group Dividend Announcement

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

EMCOR Group declared that its Board of Directors has initiated a stock buyback plan on Friday, June 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.