Blue Trust Inc. Buys 1,656 Shares of EMCOR Group, Inc. (NYSE:EME)

Blue Trust Inc. raised its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 119.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,044 shares of the construction company’s stock after purchasing an additional 1,656 shares during the period. Blue Trust Inc.’s holdings in EMCOR Group were worth $1,066,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EME. Norges Bank purchased a new position in shares of EMCOR Group during the fourth quarter worth approximately $153,739,000. TimesSquare Capital Management LLC raised its stake in shares of EMCOR Group by 93.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock worth $91,791,000 after acquiring an additional 205,793 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of 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. Hennessy Advisors Inc. purchased a new position in shares of EMCOR Group in the fourth quarter worth $25,938,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of EMCOR Group by 20.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock worth $152,170,000 after buying an additional 73,975 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson lifted 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.

Insider Buying and Selling 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 transaction, the director now directly 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 SEC, which can be accessed through the SEC website. In other news, Director Carol P. Lowe sold 1,245 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $374.23, for a total transaction of $465,916.35. Following the sale, the director now owns 16,807 shares in the company, valued at approximately $6,289,683.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

Shares of NYSE EME traded down $5.60 during mid-day trading on Friday, hitting $366.59. The stock had a trading volume of 220,433 shares, compared to its average volume of 464,050. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $401.98. The business has a 50 day moving average price of $368.60 and a two-hundred day moving average price of $344.42. The firm has a market cap of $17.23 billion, a P/E ratio of 24.18 and a beta of 1.06.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 EPS. Equities research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s payout ratio is currently 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.