ProShare Advisors LLC Decreases Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

ProShare Advisors LLC lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,216 shares of the construction company’s stock after selling 80 shares during the quarter. ProShare Advisors LLC’s holdings in EMCOR Group were worth $809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EME. Stifel Financial Corp increased its holdings in shares of EMCOR Group by 5.0% in the 4th quarter. Stifel Financial Corp now owns 101,264 shares of the construction company’s stock valued at $21,815,000 after acquiring an additional 4,815 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in EMCOR Group by 3.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 21,240 shares of the construction company’s stock valued at $4,576,000 after purchasing an additional 650 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in EMCOR Group by 68.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 7,479 shares of the construction company’s stock worth $1,611,000 after purchasing an additional 3,042 shares in the last quarter. KBC Group NV purchased a new stake in shares of EMCOR Group during the 4th quarter worth approximately $189,000. Finally, Burgundy Asset Management Ltd. lifted its position in shares of EMCOR Group by 3.9% during the 4th quarter. Burgundy Asset Management Ltd. now owns 679,902 shares of the construction company’s stock worth $146,471,000 after buying an additional 25,241 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was 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 directly owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EME has been the topic of a number of recent analyst reports. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. DA Davidson raised their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

EMCOR Group Trading Down 0.5 %

Shares of NYSE EME opened at $427.09 on Friday. The stock has a market cap of $20.07 billion, a P/E ratio of 28.17 and a beta of 1.07. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $443.96. The stock has a 50 day moving average of $379.09 and a two-hundred day moving average of $369.88.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 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 firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. EMCOR Group’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Friday, June 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

EMCOR Group Announces Dividend

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

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.