CoreCap Advisors LLC Acquires New Position in EMCOR Group, Inc. (NYSE:EME)

CoreCap Advisors LLC bought a new position in EMCOR Group, Inc. (NYSE:EME) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 839 shares of the construction company’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EME. Wealth Enhancement Advisory Services LLC lifted its position 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 valued at $7,595,000 after acquiring an additional 10,269 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of EMCOR Group by 18.9% during the first quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock valued at $50,114,000 after purchasing an additional 22,700 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of EMCOR Group by 92.8% during the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock valued at $35,901,000 after buying an additional 49,346 shares during the last quarter. AXS Investments LLC boosted its position in shares of EMCOR Group by 238.7% during the fourth quarter. AXS Investments LLC now owns 4,200 shares of the construction company’s stock valued at $905,000 after buying an additional 2,960 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in EMCOR Group in the 4th quarter worth about $9,565,000. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

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

EMCOR Group Price Performance

NYSE EME opened at $396.42 on Friday. The stock has a market capitalization of $18.50 billion, a price-to-earnings ratio of 26.15 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $401.98. The business’s fifty day moving average price is $368.41 and its 200-day moving average price is $362.91.

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

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Monday, July 15th. EMCOR Group’s payout ratio is 6.60%.

EMCOR Group declared that its Board of Directors has initiated a share buyback plan on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is currently owned by company insiders.

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.