Short Interest in EMCOR Group, Inc. (NYSE:EME) Declines By 7.8%

EMCOR Group, Inc. (NYSE:EME) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 950,000 shares, a drop of 7.8% from the August 31st total of 1,030,000 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average trading volume of 416,900 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

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

Insider Transactions at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction dated 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 directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its holdings in EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after buying an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. boosted its stake 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 valued at $75,668,000 after acquiring an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in EMCOR Group during the 4th quarter worth about $25,938,000. Renaissance Technologies LLC raised its stake in 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 during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in 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 valued at $36,978,000 after purchasing an additional 91,837 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Down 0.5 %

NYSE EME traded down $2.25 during mid-day trading on Tuesday, hitting $428.28. The stock had a trading volume of 274,191 shares, compared to its average volume of 446,751. The company has a 50 day simple moving average of $380.19 and a 200 day simple moving average of $371.26. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 28.25 and a beta of 1.07. EMCOR Group has a 52-week low of $191.50 and a 52-week high of $443.96.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the business posted $2.95 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that EMCOR Group will post 19.5 earnings per share for the current fiscal year.

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

EMCOR Group Announces Dividend

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

About EMCOR Group

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.