Argent Trust Co Has $700,000 Position in EMCOR Group, Inc. (NYSE:EME)

Argent Trust Co decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 2.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,918 shares of the construction company’s stock after selling 57 shares during the period. Argent Trust Co’s holdings in EMCOR Group were worth $700,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Eagle Bay Advisors LLC increased its position in shares of EMCOR Group by 8.1% during the first quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock worth $160,000 after acquiring an additional 34 shares in the last quarter. GAMMA Investing LLC boosted its stake in EMCOR Group by 17.2% during the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock valued at $84,000 after purchasing an additional 35 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in EMCOR Group by 2.2% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock worth $787,000 after purchasing an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of EMCOR Group by 30.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock worth $73,000 after purchasing an additional 47 shares during the last quarter. Finally, Cooper Financial Group lifted its holdings in shares of EMCOR Group by 3.7% in the second quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock valued at $485,000 after purchasing an additional 47 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Price Performance

EME opened at $430.07 on Friday. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $432.88. The firm has a market capitalization of $20.21 billion, a P/E ratio of 28.37 and a beta of 1.07. The company’s 50-day moving average is $371.92 and its 200 day moving average is $365.34.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion for 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 company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. On average, equities research analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

EMCOR Group announced that its board has approved a stock buyback 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 repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’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 completion of the sale, the director now owns 8,637 shares in the company, valued at $3,202,513.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.