Benjamin Edwards Inc. Sells 1,172 Shares of EMCOR Group, Inc. (NYSE:EME)

Benjamin Edwards Inc. lowered its holdings in EMCOR Group, Inc. (NYSE:EME) by 52.0% during the second quarter, HoldingsChannel.com reports. The fund owned 1,081 shares of the construction company’s stock after selling 1,172 shares during the period. Benjamin Edwards Inc.’s holdings in EMCOR Group were worth $395,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of EMCOR Group in the 4th quarter valued at approximately $153,739,000. Burgundy Asset Management Ltd. grew its position in EMCOR Group by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after acquiring an additional 11,479 shares during the period. Acadian Asset Management LLC raised its stake in EMCOR Group by 34.4% during the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after acquiring an additional 134,575 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of EMCOR Group by 20.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock valued at $152,170,000 after acquiring an additional 73,975 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Up 1.3 %

Shares of NYSE EME opened at $435.69 on Friday. EMCOR Group, Inc. has a 12-month low of $191.50 and a 12-month high of $437.10. The firm’s 50-day simple moving average is $373.10 and its 200 day simple moving average is $366.11. The company has a market cap of $20.48 billion, a price-to-earnings ratio of 28.74 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its 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 company had revenue of $3.67 billion for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $2.95 earnings per share. On average, equities analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group announced that its board has approved 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 reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

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

Insider Transactions at EMCOR Group

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 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 in the company, valued at $3,202,513.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EME. DA Davidson boosted their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday.

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.