The Manufacturers Life Insurance Company Sells 38,382 Shares of EMCOR Group, Inc. (NYSE:EME)

The Manufacturers Life Insurance Company cut its holdings in EMCOR Group, Inc. (NYSE:EME) by 22.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 131,785 shares of the construction company’s stock after selling 38,382 shares during the period. The Manufacturers Life Insurance Company’s holdings in EMCOR Group were worth $48,112,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EME. Acadian Asset Management LLC increased its holdings in shares of EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after buying an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of EMCOR Group by 155.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after buying an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of EMCOR Group in the 4th quarter worth about $25,938,000. Renaissance Technologies LLC increased its holdings 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 worth $85,246,000 after buying an additional 116,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of EMCOR Group by 971.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after buying an additional 91,837 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

EMCOR Group Trading Down 0.5 %

EME stock opened at $427.09 on Monday. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $443.96. The company has a 50-day moving average price of $379.09 and a 200 day moving average price of $370.20. The stock has a market cap of $20.07 billion, a PE ratio of 28.17 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 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. Sell-side analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

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

EMCOR Group announced that its board has initiated a stock repurchase plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated 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 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 filing with the SEC, which is available through this link. 1.26% of the stock is owned by corporate insiders.

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.