MBB Public Markets I LLC Acquires New Shares in EMCOR Group, Inc. (NYSE:EME)

MBB Public Markets I LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME) in the second quarter, HoldingsChannel reports. The fund acquired 3,361 shares of the construction company’s stock, valued at approximately $1,227,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Acadian Asset Management LLC raised its holdings in shares of EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after purchasing an additional 139,919 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in EMCOR Group by 155.5% during 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. bought a new position in EMCOR Group in the fourth quarter worth approximately $25,938,000. Renaissance Technologies LLC lifted its holdings in EMCOR Group by 99.2% during the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after buying an additional 116,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in EMCOR Group by 971.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after buying an additional 91,837 shares during the period. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Up 0.8 %

Shares of EME opened at $430.53 on Tuesday. The company has a 50 day moving average of $379.09 and a two-hundred day moving average of $370.53. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $443.96. The company has a market cap of $20.23 billion, a price-to-earnings ratio of 28.40 and a beta of 1.07.

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 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 firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the firm earned $2.95 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group declared that its Board of Directors has initiated a stock repurchase program on Friday, June 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders 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 annualized dividend and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the company’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 transaction, 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 Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EME has been the topic of a number of analyst reports. DA Davidson boosted their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday.

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.