Hancock Whitney Corp Sells 1,710 Shares of EMCOR Group, Inc. (NYSE:EME)

Hancock Whitney Corp reduced its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,061 shares of the construction company’s stock after selling 1,710 shares during the period. EMCOR Group accounts for about 0.7% of Hancock Whitney Corp’s investment portfolio, making the stock its 28th largest holding. Hancock Whitney Corp’s holdings in EMCOR Group were worth $20,467,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EME. Matrix Trust Co bought a new stake in EMCOR Group in the second quarter worth $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group in the 2nd quarter worth about $27,000. Innealta Capital LLC purchased a new position in shares of EMCOR Group in the 2nd quarter worth about $29,000. ORG Partners LLC bought a new position in EMCOR Group in the 2nd quarter worth about $31,000. Finally, Independence Bank of Kentucky purchased a new stake in EMCOR Group during the 1st quarter valued at about $33,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $435.69 on Friday. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $437.10. The company has a market cap of $20.48 billion, a P/E ratio of 28.74 and a beta of 1.07. The stock’s fifty day moving average price is $373.10 and its 200-day moving average price is $366.11.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the prior year, the business earned $2.95 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group declared that its board has authorized a stock buyback program on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is currently 6.60%.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the transaction, 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 SEC, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday. DA Davidson boosted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

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.