Susquehanna Portfolio Strategies LLC Sells 1,433 Shares of EMCOR Group, Inc. (NYSE:EME)

Susquehanna Portfolio Strategies LLC cut its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 0.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 189,600 shares of the construction company’s stock after selling 1,433 shares during the period. EMCOR Group makes up approximately 2.9% of Susquehanna Portfolio Strategies LLC’s holdings, making the stock its 2nd largest holding. Susquehanna Portfolio Strategies LLC owned about 0.40% of EMCOR Group worth $69,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eagle Bay Advisors LLC lifted its position in EMCOR Group by 8.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock worth $160,000 after acquiring an additional 34 shares in the last quarter. GAMMA Investing LLC raised its position in shares of EMCOR Group by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock valued at $84,000 after purchasing an additional 35 shares in the last quarter. Miller Howard Investments Inc. NY raised its position in shares of EMCOR Group by 2.2% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock valued at $787,000 after purchasing an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of EMCOR Group by 30.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock valued at $73,000 after purchasing an additional 47 shares in the last quarter. Finally, Cooper Financial Group raised its position in shares of EMCOR Group by 3.7% in the 2nd quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock valued at $485,000 after purchasing an additional 47 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EME. DA Davidson upped their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

EMCOR Group Trading Down 0.5 %

Shares of NYSE EME opened at $427.29 on Friday. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $443.96. The company has a market capitalization of $20.08 billion, a price-to-earnings ratio of 28.19 and a beta of 1.07. The business has a 50 day simple moving average of $377.82 and a 200-day simple moving average of $369.11.

EMCOR Group (NYSE:EME) last issued its quarterly 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. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the business earned $2.95 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the sale, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.26% of the company’s stock.

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.