Systematic Financial Management LP Sells 26,077 Shares of EMCOR Group, Inc. (NYSE:EME)

Systematic Financial Management LP trimmed its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 14.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,616 shares of the construction company’s stock after selling 26,077 shares during the quarter. EMCOR Group makes up about 1.8% of Systematic Financial Management LP’s portfolio, making the stock its 3rd largest holding. Systematic Financial Management LP owned about 0.34% of EMCOR Group worth $57,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of EMCOR Group by 89.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock worth $7,595,000 after purchasing an additional 10,269 shares during the last quarter. Hennessy Advisors Inc. increased its position in EMCOR Group by 18.9% in the 1st quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock valued at $50,114,000 after acquiring an additional 22,700 shares during the period. BNP Paribas Financial Markets raised its stake 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 acquiring an additional 49,346 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of EMCOR Group in the fourth quarter worth $9,565,000. Finally, BTC Capital Management Inc. acquired a new stake in EMCOR Group in the first quarter valued at $701,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction dated 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 $3,202,513.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is owned by insiders.

EMCOR Group Trading Down 0.5 %

Shares of EME opened at $427.09 on Friday. The firm’s fifty day simple moving average is $379.09 and its two-hundred day simple moving average is $369.88. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $443.96. The stock has a market capitalization of $20.07 billion, a P/E ratio of 28.17 and a beta of 1.07.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping 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 business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the firm posted $2.95 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

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

EMCOR Group announced that its Board of Directors has approved a share buyback plan on Friday, June 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About EMCOR Group

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.