Susquehanna Portfolio Strategies LLC Has $69.22 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Susquehanna Portfolio Strategies LLC decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 0.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 189,600 shares of the construction company’s stock after selling 1,433 shares during the quarter. EMCOR Group makes up 2.9% of Susquehanna Portfolio Strategies LLC’s portfolio, making the stock its 2nd largest holding. Susquehanna Portfolio Strategies LLC’s holdings in EMCOR Group were worth $69,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of EME. Acadian Asset Management LLC grew its stake in shares of EMCOR Group by 55.6% in the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after purchasing an additional 139,919 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after buying an additional 126,148 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of EMCOR Group in the fourth quarter valued at $25,938,000. Renaissance Technologies LLC lifted its holdings in shares of EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after buying an additional 116,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after buying an additional 91,837 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

EME has been the subject of several research analyst reports. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. DA Davidson upped their price objective 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 related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction on 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 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 owned by insiders.

EMCOR Group Stock Down 0.5 %

Shares of NYSE EME opened at $427.29 on Friday. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month 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 business has a fifty day simple moving average of $377.82 and a 200-day simple moving average of $369.11.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the business posted $2.95 earnings per share. EMCOR Group’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.23%. 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 allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.