Modus Advisors LLC boosted its position in EMCOR Group, Inc. (NYSE:EME – Free Report) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,442 shares of the construction company’s stock after acquiring an additional 105 shares during the quarter. Modus Advisors LLC’s holdings in EMCOR Group were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in EMCOR Group by 65.1% during the 1st quarter. Macquarie Group Ltd. now owns 21,566 shares of the construction company’s stock worth $3,506,000 after purchasing an additional 8,506 shares in the last quarter. Putnam Investments LLC lifted its stake in shares of EMCOR Group by 0.5% during the first quarter. Putnam Investments LLC now owns 98,666 shares of the construction company’s stock worth $16,042,000 after purchasing an additional 511 shares in the last quarter. SkyView Investment Advisors LLC purchased a new stake in shares of EMCOR Group in the first quarter worth about $1,177,000. JPMorgan Chase & Co. grew its stake in shares of EMCOR Group by 96.7% in the first quarter. JPMorgan Chase & Co. now owns 651,082 shares of the construction company’s stock valued at $105,859,000 after buying an additional 320,153 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of EMCOR Group by 9.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,966 shares of the construction company’s stock valued at $808,000 after buying an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on shares of EMCOR Group in a research report on Thursday, August 17th. They set a “strong-buy” rating on the stock.
EMCOR Group Stock Up 0.8 %
NYSE EME traded up $1.81 during mid-day trading on Thursday, reaching $217.74. 40,603 shares of the company’s stock traded hands, compared to its average volume of 364,386. The company has a fifty day simple moving average of $209.72 and a 200-day simple moving average of $181.53. EMCOR Group, Inc. has a 1-year low of $112.85 and a 1-year high of $227.49. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 21.47 and a beta of 1.11. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.11.
EMCOR Group (NYSE:EME – Get Free Report) last released its earnings results on Thursday, July 27th. The construction company reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.58. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.01 billion. EMCOR Group had a return on equity of 24.20% and a net margin of 4.13%. EMCOR Group’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.99 EPS. As a group, equities research analysts expect that EMCOR Group, Inc. will post 11.01 EPS for the current year.
EMCOR Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 20th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 0.33%. EMCOR Group’s dividend payout ratio is presently 7.16%.
Insider Buying and Selling
In related news, CEO Anthony Guzzi sold 2,435 shares of EMCOR Group stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $185.01, for a total transaction of $450,499.35. Following the sale, the chief executive officer now directly owns 236,546 shares in the company, valued at $43,763,375.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 22,000 shares of company stock valued at $4,196,296 in the last three months. 1.60% of the stock is currently owned by corporate insiders.
EMCOR Group Profile
EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; 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.
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