EMCOR Group, Inc. (NYSE:EME) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,320 shares of the construction company’s stock after acquiring an additional 73 shares during the quarter. CIBC Asset Management Inc’s holdings in EMCOR Group were worth $482,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Matrix Trust Co acquired a new position in shares of EMCOR Group during the 2nd quarter worth $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group during the second quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in EMCOR Group during the first quarter worth about $28,000. Innealta Capital LLC purchased a new position in EMCOR Group in the second quarter valued at about $29,000. Finally, ORG Partners LLC acquired a new stake in shares of EMCOR Group during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction on Monday, July 29th. The stock was 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 of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson upped their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

EMCOR Group Stock Down 0.2 %

EMCOR Group stock opened at $352.88 on Friday. The firm has a market capitalization of $16.58 billion, a PE ratio of 23.28 and a beta of 1.07. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98. The firm’s 50-day simple moving average is $366.75 and its 200 day simple moving average is $358.16.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the firm earned $2.95 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s payout ratio is 6.60%.

EMCOR Group 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.