Dorsey Wright & Associates Decreases Holdings in EMCOR Group, Inc. (NYSE:EME)

Dorsey Wright & Associates trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,480 shares of the construction company’s stock after selling 29 shares during the period. EMCOR Group accounts for about 1.6% of Dorsey Wright & Associates’ holdings, making the stock its 14th biggest holding. Dorsey Wright & Associates’ holdings in EMCOR Group were worth $6,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in EMCOR Group by 89.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock worth $7,595,000 after buying an additional 10,269 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in EMCOR Group by 18.9% in the 1st quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock worth $50,114,000 after buying an additional 22,700 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in EMCOR Group by 92.8% in the 1st quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock worth $35,901,000 after buying an additional 49,346 shares in the last quarter. Wellington Management Group LLP acquired a new position in EMCOR Group in the 4th quarter worth $9,565,000. Finally, BTC Capital Management Inc. acquired a new position in EMCOR Group in the 1st quarter worth $701,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EME shares. DA Davidson boosted 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. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Insider Buying and Selling

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 sale, the director now owns 8,637 shares in the company, valued at $3,202,513.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.26% of the stock is owned by company insiders.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $427.29 on Friday. The firm has a market cap of $20.08 billion, a PE ratio of 28.19 and a beta of 1.07. The firm’s 50-day simple moving average is $377.82 and its 200-day simple moving average is $369.11. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $443.96.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. The business 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 EPS. On average, equities analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 authorized a stock repurchase program on Friday, June 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are 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.