EMCOR Group, Inc. (NYSE:EME) Shares Bought by Quarry LP

Quarry LP lifted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 155.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 317 shares of the construction company’s stock after acquiring an additional 193 shares during the quarter. Quarry LP’s holdings in EMCOR Group were worth $116,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EME. Matrix Trust Co acquired a new position in shares of EMCOR Group in the 2nd quarter valued at $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group during the second quarter valued at about $27,000. Innealta Capital LLC acquired a new position in shares of EMCOR Group in the second quarter worth about $29,000. ORG Partners LLC purchased a new position in shares of EMCOR Group in the second quarter worth approximately $31,000. Finally, Independence Bank of Kentucky acquired a new stake in shares of EMCOR Group during the first quarter valued at approximately $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 stock was sold at an average price of $370.79, for a total value of $482,027.00. Following 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. 1.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EME has been the subject 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 note on Saturday. DA Davidson raised their target price 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 Price Performance

Shares of EME opened at $427.98 on Wednesday. The business’s 50-day moving average is $380.19 and its 200-day moving average is $371.26. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 28.23 and a beta of 1.07. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $443.96.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share 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 analyst estimates of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 EPS. Equities research analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group announced that its board has approved a stock buyback program on Friday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.