EMCOR Group, Inc. (NYSE:EME) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its position in EMCOR Group, Inc. (NYSE:EME) by 2.7% in the 1st quarter, Holdings Channel reports. The firm owned 11,548 shares of the construction company’s stock after buying an additional 300 shares during the period. State of Michigan Retirement System’s holdings in EMCOR Group were worth $4,044,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in EMCOR Group by 17.2% during the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock valued at $84,000 after acquiring an additional 35 shares during the last quarter. Modus Advisors LLC grew its holdings in shares of EMCOR Group by 2.0% in the 4th quarter. Modus Advisors LLC now owns 2,503 shares of the construction company’s stock worth $539,000 after acquiring an additional 49 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of EMCOR Group by 0.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,150 shares of the construction company’s stock worth $3,049,000 after acquiring an additional 50 shares during the last quarter. Lindbrook Capital LLC increased its position in EMCOR Group by 32.5% during the 4th quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock worth $45,000 after purchasing an additional 51 shares in the last quarter. Finally, Allworth Financial LP increased its position in EMCOR Group by 83.8% during the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after purchasing an additional 62 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, DA Davidson restated a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Price Performance

NYSE EME opened at $357.12 on Wednesday. The firm has a market capitalization of $16.78 billion, a P/E ratio of 23.56 and a beta of 1.06. EMCOR Group, Inc. has a 1-year low of $180.63 and a 1-year high of $401.98. The business’s 50-day simple moving average is $376.22 and its 200-day simple moving average is $312.08.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, topping the consensus estimate of $2.92 by $1.25. The firm had revenue of $3.43 billion for the quarter. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. On average, equities research analysts expect that EMCOR Group, Inc. will post 16.1 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 15th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.28%. EMCOR Group’s payout ratio is currently 6.60%.

Insiders Place Their Bets

In other news, Director Carol P. Lowe sold 1,245 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total value of $465,916.35. Following the completion of the sale, the director now directly owns 16,807 shares in the company, valued at approximately $6,289,683.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.26% of the stock is owned by company insiders.

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.