Gateway Investment Advisers LLC Acquires Shares of 928 EMCOR Group, Inc. (NYSE:EME)

Gateway Investment Advisers LLC bought a new position in EMCOR Group, Inc. (NYSE:EME) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 928 shares of the construction company’s stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in EMCOR Group in the fourth quarter worth $153,739,000. Burgundy Asset Management Ltd. grew its position in shares of EMCOR Group by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after buying an additional 11,479 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of EMCOR Group by 20.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock worth $152,170,000 after acquiring an additional 73,975 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in 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 during the period. Finally, Acadian Asset Management LLC boosted its stake in EMCOR Group by 55.6% during the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after acquiring an additional 139,919 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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 note on Friday, July 26th.

Insider Activity

In related news, Director Carol P. Lowe sold 1,245 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total value of $465,916.35. Following the transaction, the director now directly owns 16,807 shares of the company’s stock, valued at approximately $6,289,683.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

EMCOR Group Trading Down 0.4 %

NYSE:EME traded down $1.25 during trading hours on Friday, reaching $355.77. The company had a trading volume of 259,177 shares, compared to its average volume of 471,323. The firm has a market cap of $16.72 billion, a price-to-earnings ratio of 23.47 and a beta of 1.06. The firm’s 50 day moving average price is $369.58 and its 200-day moving average price 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 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. On average, analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

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.