Oppenheimer Asset Management Inc. Lowers Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Oppenheimer Asset Management Inc. reduced its holdings in EMCOR Group, Inc. (NYSE:EME) by 20.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,861 shares of the construction company’s stock after selling 2,036 shares during the period. Oppenheimer Asset Management Inc.’s holdings in EMCOR Group were worth $2,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Matrix Trust Co acquired a new stake in EMCOR Group in the 2nd quarter valued at $26,000. Proffitt & Goodson Inc. purchased a new position in EMCOR Group in the 2nd quarter valued at about $27,000. Innealta Capital LLC acquired a new stake in EMCOR Group in the 2nd quarter worth about $29,000. V Square Quantitative Management LLC purchased a new stake in EMCOR Group during the 1st quarter worth approximately $28,000. Finally, ORG Partners LLC acquired a new position in shares of EMCOR Group during the second quarter valued at approximately $31,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson lifted their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,202,513.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Stock Up 1.6 %

Shares of NYSE EME opened at $402.63 on Tuesday. The firm has a 50-day simple moving average of $369.19 and a 200-day simple moving average of $363.94. The stock has a market capitalization of $18.92 billion, a price-to-earnings ratio of 26.56 and a beta of 1.07. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $403.69.

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

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date was Monday, July 15th. EMCOR Group’s payout ratio is currently 6.60%.

EMCOR Group announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

EMCOR Group 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.