Wesbanco Bank Inc. Sells 451 Shares of EMCOR Group, Inc. (NYSE:EME)

Wesbanco Bank Inc. lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 14.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,629 shares of the construction company’s stock after selling 451 shares during the quarter. Wesbanco Bank Inc.’s holdings in EMCOR Group were worth $960,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of EME. Matrix Trust Co bought a new position in EMCOR Group in the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new stake in shares of EMCOR Group during the first quarter worth $28,000. Allworth Financial LP lifted its position in shares of EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after acquiring an additional 62 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of EMCOR Group in the first quarter worth $33,000. Finally, Evermay Wealth Management LLC purchased a new position in shares of EMCOR Group in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the 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 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 through this link. In related news, Director Carol P. Lowe sold 1,245 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $6,289,683.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction that occurred 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 owns 8,637 shares in the company, valued at $3,202,513.23. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson raised their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

EMCOR Group Trading Up 1.1 %

EMCOR Group stock opened at $360.87 on Friday. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $401.98. The firm has a market capitalization of $16.96 billion, a PE ratio of 23.55 and a beta of 1.06. The firm’s 50 day simple moving average is $371.01 and its 200 day simple moving average is $338.44.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion for 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 business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.95 earnings per share. Research analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. EMCOR Group’s dividend payout ratio (DPR) 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.