Summit Financial Wealth Advisors LLC Takes $518,000 Position in EMCOR Group, Inc. (NYSE:EME)

Summit Financial Wealth Advisors LLC acquired a new stake in EMCOR Group, Inc. (NYSE:EME) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,480 shares of the construction company’s stock, valued at approximately $518,000.

A number of other hedge funds also recently added to or reduced their stakes in EME. Daiwa Securities Group Inc. raised its position in shares of EMCOR Group by 4.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,750 shares of the construction company’s stock worth $5,165,000 after acquiring an additional 600 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in EMCOR Group in the first quarter worth about $263,000. Choreo LLC bought a new position in EMCOR Group in the first quarter worth about $205,000. Fortem Financial Group LLC lifted its position in shares of EMCOR Group by 5.4% during the first quarter. Fortem Financial Group LLC now owns 6,357 shares of the construction company’s stock valued at $2,226,000 after buying an additional 324 shares during the last quarter. Finally, Resonant Capital Advisors LLC bought a new stake in shares of EMCOR Group in the 1st quarter valued at about $335,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reaffirmed a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a research report on Friday, March 22nd.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the sale, the director now directly owns 16,807 shares of the company’s stock, valued at approximately $6,289,683.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is currently owned by insiders.

EMCOR Group Trading Up 0.4 %

Shares of EME stock traded up $1.51 during trading hours on Monday, reaching $364.05. 300,967 shares of the company’s stock were exchanged, compared to its average volume of 467,804. EMCOR Group, Inc. has a 1 year low of $184.34 and a 1 year high of $401.98. The stock has a market cap of $17.11 billion, a PE ratio of 24.01 and a beta of 1.06. The stock’s fifty day moving average price is $377.49 and its two-hundred day moving average price is $316.34.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The company had revenue of $3.43 billion during the quarter. On average, equities analysts expect that EMCOR Group, Inc. will post 16.1 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Monday, July 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

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.