Canandaigua National Bank & Trust Co. Sells 349 Shares of EMCOR Group, Inc. (NYSE:EME)

Canandaigua National Bank & Trust Co. decreased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,050 shares of the construction company’s stock after selling 349 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in EMCOR Group were worth $748,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Eagle Bay Advisors LLC grew its position in EMCOR Group by 8.1% in the first quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock valued at $160,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC grew its position in EMCOR Group by 17.2% in the first 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. Massmutual Trust Co. FSB ADV grew its position in EMCOR Group by 30.9% in the second 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. Daiwa Securities Group Inc. grew its position in EMCOR Group by 0.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,150 shares of the construction company’s stock valued at $3,049,000 after purchasing an additional 50 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in EMCOR Group by 32.5% in the fourth quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock valued at $45,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’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 completion of the sale, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’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 completion of the sale, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carol P. Lowe sold 1,245 shares of the firm’s 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 owns 16,807 shares of the company’s stock, valued at approximately $6,289,683.61. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Trading Down 0.2 %

Shares of EME traded down $0.55 during midday trading on Friday, reaching $356.47. The stock had a trading volume of 148,987 shares, compared to its average volume of 470,603. The firm has a 50 day simple moving average of $370.24 and a 200-day simple moving average of $338.57. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $401.98. The firm has a market cap of $16.75 billion, a PE ratio of 23.49 and a beta of 1.06.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the firm posted $2.95 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, research analysts forecast 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. Stockholders of record on Monday, July 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

Wall Street Analysts Forecast Growth

Separately, 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 research report on Friday, July 26th.

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.