EMCOR Group, Inc. (NYSE:EME) Stock Position Lifted by Chase Investment Counsel Corp

Chase Investment Counsel Corp boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 2.4% during the second quarter, HoldingsChannel.com reports. The firm owned 12,476 shares of the construction company’s stock after acquiring an additional 294 shares during the period. EMCOR Group makes up about 1.5% of Chase Investment Counsel Corp’s portfolio, making the stock its 22nd largest holding. Chase Investment Counsel Corp’s holdings in EMCOR Group were worth $4,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC boosted its holdings in shares of EMCOR Group by 8.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock worth $160,000 after buying an additional 34 shares during the period. GAMMA Investing LLC boosted its holdings in shares of EMCOR Group by 17.2% during the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock worth $84,000 after buying an additional 35 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in shares of 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 buying an additional 46 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of EMCOR Group by 30.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock worth $73,000 after buying an additional 47 shares during the period. Finally, Cooper Financial Group boosted its holdings in shares of EMCOR Group by 3.7% during the 2nd quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock worth $485,000 after buying an additional 47 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EMCOR Group

In other 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 value of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. DA Davidson upped 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 Price Performance

NYSE:EME opened at $427.09 on Monday. 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 one year low of $191.50 and a one year high of $443.96. The company has a fifty day moving average price of $379.09 and a 200 day moving average price of $370.20.

EMCOR Group (NYSE:EME) last released its 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. The firm had revenue of $3.67 billion during 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 business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 EPS. As a group, equities research analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group declared that its Board of Directors has initiated a share repurchase plan on Friday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s payout ratio is currently 6.60%.

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.