Daiwa Securities Group Inc. Increases Position in EMCOR Group, Inc. (NYSE:EME)

Daiwa Securities Group Inc. increased its holdings in EMCOR Group, Inc. (NYSE:EME) by 42.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,970 shares of the construction company’s stock after buying an additional 6,220 shares during the period. Daiwa Securities Group Inc.’s holdings in EMCOR Group were worth $7,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. National Bank of Canada FI increased its position in shares of EMCOR Group by 3,322.5% during the 4th quarter. National Bank of Canada FI now owns 5,784 shares of the construction company’s stock valued at $1,231,000 after purchasing an additional 5,615 shares during the last quarter. Principal Securities Inc. purchased a new stake in EMCOR Group during the fourth quarter worth about $472,000. QRG Capital Management Inc. raised its position in EMCOR Group by 7.1% in the fourth quarter. QRG Capital Management Inc. now owns 2,259 shares of the construction company’s stock worth $487,000 after acquiring an additional 149 shares during the period. Avantax Advisory Services Inc. purchased a new position in EMCOR Group in the fourth quarter valued at about $219,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of EMCOR Group by 32.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,944 shares of the construction company’s stock valued at $1,711,000 after acquiring an additional 1,955 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Insider Activity 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 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 approximately $3,202,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Stock Performance

Shares of EME opened at $385.07 on Thursday. The firm has a market cap of $18.10 billion, a P/E ratio of 25.40 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 $401.98. The business has a 50-day moving average of $367.40 and a 200 day moving average of $361.28.

EMCOR Group (NYSE:EME) last posted 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. The company 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 quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 earnings per share. As a group, research analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group announced that its board has authorized a share buyback program on Friday, June 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Analyst Ratings Changes

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

EMCOR Group Company 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.