ProShare Advisors LLC Decreases Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

ProShare Advisors LLC cut its stake in EMCOR Group, Inc. (NYSE:EME) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,216 shares of the construction company’s stock after selling 80 shares during the period. ProShare Advisors LLC’s holdings in EMCOR Group were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in EME. Acadian Asset Management LLC boosted its position in shares of EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after acquiring an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after acquiring an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in EMCOR Group in the fourth quarter worth approximately $25,938,000. Renaissance Technologies LLC increased its stake in EMCOR Group by 99.2% during the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after acquiring an additional 116,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after purchasing an additional 91,837 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. DA Davidson increased 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. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.26% of the company’s stock.

EMCOR Group Stock Down 0.5 %

Shares of NYSE EME opened at $427.09 on Friday. The business’s 50 day moving average is $379.09 and its two-hundred day moving average is $369.88. EMCOR Group, Inc. has a 52-week low of $191.50 and a 52-week high of $443.96. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 28.17 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data 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 return on equity of 32.73% and a net margin of 6.01%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the business earned $2.95 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

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

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.