Ignite Planners LLC Buys 162 Shares of EMCOR Group, Inc. (NYSE:EME)

Ignite Planners LLC raised its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 27.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 751 shares of the construction company’s stock after purchasing an additional 162 shares during the quarter. Ignite Planners LLC’s holdings in EMCOR Group were worth $272,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in EMCOR Group in the 4th quarter valued at approximately $153,739,000. TimesSquare Capital Management LLC boosted its position in shares of EMCOR Group by 93.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock valued at $91,791,000 after acquiring an additional 205,793 shares in the last quarter. Acadian Asset Management LLC raised its position in EMCOR Group by 55.6% in the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after purchasing an additional 139,919 shares in the last quarter. Hennessy Advisors Inc. bought a new position in EMCOR Group during the fourth quarter worth about $25,938,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in EMCOR Group by 20.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock valued at $152,170,000 after purchasing an additional 73,975 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of EME traded down $1.25 during trading hours on Friday, hitting $355.77. The stock had a trading volume of 259,177 shares, compared to its average volume of 471,323. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 23.47 and a beta of 1.06. The company’s fifty day moving average is $369.58 and its two-hundred day moving average is $340.31. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping 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 firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the firm earned $2.95 earnings per share. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is currently 6.60%.

Analysts Set New Price Targets

Separately, DA Davidson increased their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Insider Transactions at EMCOR Group

In other EMCOR Group news, Director Carol P. Lowe sold 1,245 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $374.23, for a total value of $465,916.35. Following the completion of the sale, the director now owns 16,807 shares in the company, valued at approximately $6,289,683.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group 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 in the company, valued at $3,202,513.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carol P. Lowe sold 1,245 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $374.23, for a total transaction of $465,916.35. Following the transaction, the director now owns 16,807 shares in the company, valued at $6,289,683.61. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

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.