Profund Advisors LLC Sells 502 Shares of EMCOR Group, Inc. (NYSE:EME)

Profund Advisors LLC decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 26.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,363 shares of the construction company’s stock after selling 502 shares during the period. Profund Advisors LLC’s holdings in EMCOR Group were worth $498,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Burgundy Asset Management Ltd. increased its holdings 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 purchasing an additional 11,479 shares during the last quarter. Acadian Asset Management LLC boosted its stake in EMCOR Group by 34.4% during the 2nd 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 during the last quarter. Allspring Global Investments Holdings LLC increased its stake in EMCOR Group by 20.5% in 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 purchasing an additional 73,975 shares in the last quarter. Renaissance Technologies LLC raised its holdings in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of EMCOR Group by 155.5% during the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after purchasing an additional 126,148 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on EME shares. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. DA Davidson raised their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Stock Up 0.4 %

EMCOR Group stock opened at $435.23 on Thursday. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $442.15. The company has a 50 day moving average of $376.53 and a 200-day moving average of $368.69. The stock has a market capitalization of $20.45 billion, a PE ratio of 28.71 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its quarterly 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. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. Equities analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders 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 dividend yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

EMCOR Group declared that its Board of Directors has authorized a stock buyback plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at EMCOR Group

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