Canandaigua National Bank & Trust Co. Sells 353 Shares of EMCOR Group, Inc. (NYSE:EME)

Canandaigua National Bank & Trust Co. decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 17.2% in the third quarter, HoldingsChannel.com reports. The fund owned 1,697 shares of the construction company’s stock after selling 353 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in EMCOR Group were worth $731,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of EMCOR Group by 89.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock worth $7,595,000 after buying an additional 10,269 shares in the last quarter. Hennessy Advisors Inc. lifted its position 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 lifted its position in shares of EMCOR Group by 92.8% in the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock worth $35,901,000 after buying an additional 49,346 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of EMCOR Group in the fourth quarter worth about $9,565,000. Finally, BTC Capital Management Inc. purchased a new stake in EMCOR Group during the first quarter valued at approximately $701,000. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on EME shares. DA Davidson upped their target price 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 upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 28th.

EMCOR Group Stock Performance

EME traded up $4.05 during trading on Friday, hitting $435.00. 291,622 shares of the stock were exchanged, compared to its average volume of 444,076. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $443.96. The firm has a 50 day simple moving average of $385.74 and a 200 day simple moving average of $373.50. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of 28.70 and a beta of 1.07.

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

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Tuesday, October 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio is presently 6.60%.

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

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the sale, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.26% of the company’s stock.

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.