Meeder Advisory Services Inc. Buys 194 Shares of EMCOR Group, Inc. (NYSE:EME)

Meeder Advisory Services Inc. increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 24.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003 shares of the construction company’s stock after purchasing an additional 194 shares during the quarter. Meeder Advisory Services Inc.’s holdings in EMCOR Group were worth $366,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new position in shares of EMCOR Group during the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. acquired a new position in shares of EMCOR Group during the second quarter worth $27,000. Innealta Capital LLC acquired a new position in shares of EMCOR Group during the second quarter worth $29,000. V Square Quantitative Management LLC purchased a new stake in shares of EMCOR Group during the 1st quarter valued at $28,000. Finally, ORG Partners LLC acquired a new stake in shares of EMCOR Group in the 2nd quarter worth $31,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, 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 report on Friday, July 26th.

EMCOR Group Stock Up 2.0 %

Shares of EMCOR Group stock opened at $396.42 on Monday. The firm has a market capitalization of $18.63 billion, a P/E ratio of 26.15 and a beta of 1.07. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98. The company has a 50 day moving average price of $368.41 and a 200 day moving average price of $363.31.

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

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid 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 yield of 0.25%. EMCOR Group’s payout ratio is presently 6.60%.

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

Insider Activity

In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.26% of the company’s stock.

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.