Vest Financial LLC Has $1.08 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Vest Financial LLC grew its position in EMCOR Group, Inc. (NYSE:EME) by 15.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,952 shares of the construction company’s stock after buying an additional 386 shares during the quarter. Vest Financial LLC’s holdings in EMCOR Group were worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EME. Matrix Trust Co bought a new position in EMCOR Group in the second quarter valued at approximately $26,000. Proffitt & Goodson Inc. bought a new position in shares of EMCOR Group in the 2nd quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in shares of EMCOR Group in the 1st quarter valued at $28,000. Innealta Capital LLC acquired a new position in shares of EMCOR Group during the 2nd quarter worth $29,000. Finally, ORG Partners LLC bought a new stake in shares of EMCOR Group during the 2nd quarter worth $31,000. Institutional investors own 92.59% of the company’s stock.

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 that occurred 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 sale, the director now directly owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by company insiders.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $388.30 on Friday. The firm has a 50 day simple moving average of $367.74 and a 200 day simple moving average of $361.47. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 25.61 and a beta of 1.07. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $401.98.

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

EMCOR Group announced that its Board of Directors has authorized a stock repurchase plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is currently 6.60%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lifted their target price on 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 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.