Meeder Advisory Services Inc. buy 194 shares of EMCOR Group, Inc. (NYSE:EME)

Meeder Advisory Services Inc. raised its stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 24.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003 shares of the construction company’s stock after buying an additional 194 shares during the quarter. Holdings of Meeder Advisory Services Inc. in EMCOR Group were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors have recently added to or reduced their stakes in the company. Matrix Trust Co bought a new position in shares of EMCOR Group in the second quarter valued at approximately $26,000. Proffitt & Goodson Inc. acquired a new position in shares of EMCOR Group in the second quarter valued at $27,000. Inçalta Capital LLC purchased a new position in shares of EMCOR Group in the second quarter valued at $29,000. V Square Quantitative Management LLC purchased a new stake in shares of EMCOR Group in the first quarter valued at $28,000. Finally, ORG Partners LLC acquired a new stake in shares of EMCOR Group in the second quarter valued at $31,000. Institutional investors own 92.59% of the company’s shares.

Analysts on Wall Street are forecasting an increase

Separately, DA Davidson upped 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.

Check out our latest research report on EME

EMCOR Group stocks up 2.0%

Shares of EMCOR Group stock opened at $396.42 on Monday. The firm has a market cap of $18.63 billion, a P/E ratio of 26.15 and a beta of 1.07. EMCOR Group, Inc. it has a 52-week low of $191.50 and a 52-week high of $401.98. The company has a 50-day moving average price of $368.41 and a 200-day moving average price of $363.31.

EMCOR Group (NYSE:EME – Get Free Report ) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. The business had revenue of $3.67 billion during 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 company’s quarterly revenue was up 20.4% year over year. In the same quarter last year, the company posted earnings of $2.95 per share. As a group, research analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group announces dividend

The company 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. The ex-dividend date of this dividend was Monday, July 15th. This represents an annualized dividend of $1.00 and a yield of 0.25%. EMCOR Group’s payout ratio is currently 6.60%.

EMCOR Group announced that its Board of Directors has approved a share repurchase plan on Friday, June 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Indoor activity

In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction dated 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 of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Corporate insiders own 1.26% of the company’s shares.

EMCOR Group company profile

(Free report)

EMCOR Group, Inc provides construction and facilities, construction and industrial services in the United States and the United Kingdom. Provides design, integration, installation, start-up, operation and maintenance services related to power transmission, distribution and generation systems; energy solutions; electrical and lighting systems of premises; process instrumentation; low voltage systems; voice and data communication systems; road and transit lighting, signaling and fiber optic lines; computerized traffic control systems and signal and communications equipment; heating, ventilation, air conditioning, refrigeration and geothermal solutions; cleanroom process ventilation systems; fire protection and extinguishing systems; high purity plumbing, process and piping systems; control and filtration systems; water and wastewater treatment systems; heating and cooling systems of the central plant; Crane and rigging services; milling services; and steel fabrication, erection, and welding services.

See Also

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