Pallas Capital Advisors LLC Acquires Shares of 1,050 EMCOR Group, Inc. (NYSE:EME)

Pallas Capital Advisors LLC bought a new stake in EMCOR Group, Inc. (NYSE:EME) during the second quarter, HoldingsChannel.com reports. The firm bought 1,050 shares of the construction company’s stock, valued at approximately $383,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Matrix Trust Co bought a new stake in shares of EMCOR Group during the 2nd quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in shares of EMCOR Group in the 1st quarter valued at approximately $28,000. ORG Partners LLC bought a new stake in shares of EMCOR Group during the 2nd quarter valued at approximately $31,000. Independence Bank of Kentucky acquired a new position in EMCOR Group during the 1st quarter worth approximately $33,000. Finally, Evermay Wealth Management LLC bought a new position in EMCOR Group in the 4th quarter valued at approximately $39,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

EMCOR Group Stock Down 1.4 %

Shares of NYSE EME traded down $5.05 during trading on Tuesday, reaching $363.49. The company had a trading volume of 126,921 shares, compared to its average volume of 460,787. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $401.98. The stock has a market cap of $17.08 billion, a P/E ratio of 24.00 and a beta of 1.06. The company’s fifty day moving average price is $368.39 and its 200-day moving average price is $346.99.

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

EMCOR Group Dividend Announcement

The firm 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 was Monday, July 15th. EMCOR Group’s payout ratio is 6.60%.

Insider Buying and Selling

In related 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 transaction of $465,916.35. Following the completion of the sale, the director now owns 16,807 shares in the company, valued at $6,289,683.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carol P. Lowe sold 1,245 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was 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 of the company’s stock, valued at approximately $6,289,683.61. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the transaction, the director now owns 8,637 shares in the company, valued at $3,202,513.23. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

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.