EMCOR Group, Inc. (NYSE:EME) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 22.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,908 shares of the construction company’s stock after selling 822 shares during the period. Main Street Financial Solutions LLC’s holdings in EMCOR Group were worth $1,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EME. QRG Capital Management Inc. lifted its position in shares of EMCOR Group by 7.1% during the fourth quarter. QRG Capital Management Inc. now owns 2,259 shares of the construction company’s stock worth $487,000 after purchasing an additional 149 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of EMCOR Group during the fourth quarter worth $219,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of EMCOR Group by 32.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 7,944 shares of the construction company’s stock worth $1,711,000 after purchasing an additional 1,955 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of EMCOR Group by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,158 shares of the construction company’s stock worth $1,542,000 after purchasing an additional 85 shares in the last quarter. Finally, Navellier & Associates Inc. lifted its position in shares of EMCOR Group by 58.6% during the fourth quarter. Navellier & Associates Inc. now owns 46,097 shares of the construction company’s stock worth $9,931,000 after purchasing an additional 17,025 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Price Performance

EME opened at $388.30 on Friday. The stock has a market capitalization of $18.25 billion, a PE ratio of 25.61 and a beta of 1.07. The firm’s fifty day moving average price is $367.74 and its 200 day moving average price is $361.47. EMCOR Group, Inc. has a 12-month low of $191.50 and a 12-month high of $401.98.

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

EMCOR Group announced that its board has authorized a stock repurchase plan on Friday, June 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s dividend payout ratio is presently 6.60%.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction on 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 $3,202,513.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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 report on Friday, July 26th.

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.