Wedge Capital Management L L P NC Acquires 1,957 Shares of EMCOR Group, Inc. (NYSE:EME)

Wedge Capital Management L L P NC increased its holdings in EMCOR Group, Inc. (NYSE:EMEGet Rating) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,603 shares of the construction company’s stock after purchasing an additional 1,957 shares during the period. Wedge Capital Management L L P NC’s holdings in EMCOR Group were worth $14,476,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Zions Bancorporation N.A. acquired a new position in EMCOR Group during the 1st quarter worth $26,000. Parkside Financial Bank & Trust lifted its position in EMCOR Group by 66.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in EMCOR Group during the 1st quarter worth $35,000. Northwestern Mutual Wealth Management Co. lifted its position in EMCOR Group by 48.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 397 shares of the construction company’s stock worth $45,000 after acquiring an additional 130 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in EMCOR Group during the 4th quarter worth $84,000. 94.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 7,500 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $120.11, for a total value of $900,825.00. Following the completion of the transaction, the chief executive officer now owns 283,927 shares of the company’s stock, valued at $34,102,471.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.

EMCOR Group Stock Up 1.4 %

Shares of EME opened at $119.67 on Tuesday. The company has a 50-day simple moving average of $115.28 and a 200-day simple moving average of $110.94. The firm has a market capitalization of $5.91 billion, a P/E ratio of 16.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.30. EMCOR Group, Inc. has a 52 week low of $95.64 and a 52 week high of $135.98.

EMCOR Group (NYSE:EMEGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The construction company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.31. EMCOR Group had a net margin of 3.59% and a return on equity of 17.70%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that EMCOR Group, Inc. will post 7.72 earnings per share for the current year.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Tuesday, October 18th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, October 17th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.13. EMCOR Group’s dividend payout ratio is 7.30%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EME. KeyCorp boosted their target price on shares of EMCOR Group from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 31st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $138.75.

EMCOR Group Profile

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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, starts-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.

See Also

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Institutional Ownership by Quarter for EMCOR Group (NYSE:EME)

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