Scientech Research LLC Takes Position in EMCOR Group, Inc. (NYSE:EME)

Scientech Research LLC bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,970 shares of the construction company’s stock, valued at approximately $719,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Matrix Trust Co purchased a new stake in shares of EMCOR Group during the second quarter worth $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group during the 2nd quarter worth about $27,000. Innealta Capital LLC acquired a new stake in EMCOR Group in the 2nd quarter valued at about $29,000. ORG Partners LLC purchased a new position in shares of EMCOR Group in the 2nd quarter valued at about $31,000. Finally, Independence Bank of Kentucky acquired a new position in shares of EMCOR Group during the first quarter worth about $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

NYSE:EME opened at $427.09 on Friday. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $443.96. The stock has a market cap of $20.07 billion, a P/E ratio of 28.17 and a beta of 1.07. The stock has a 50-day simple moving average of $379.09 and a 200-day simple moving average of $369.88.

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

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

EMCOR Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EME. DA Davidson raised their target price 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. StockNews.com upgraded shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday.

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.