Short Interest in EMCOR Group, Inc. (NYSE:EME) Decreases By 7.8%

EMCOR Group, Inc. (NYSE:EME) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 950,000 shares, a drop of 7.8% from the August 31st total of 1,030,000 shares. Based on an average daily trading volume, of 416,900 shares, the short-interest ratio is currently 2.3 days. Currently, 2.1% of the shares of the company are sold short.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s 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 completion of the transaction, 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 SEC, which is available at this link. Corporate insiders own 1.26% of the company’s stock.

Institutional Trading of EMCOR Group

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of EMCOR Group by 89.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock valued at $7,595,000 after purchasing an additional 10,269 shares during the period. Hennessy Advisors Inc. grew its position in shares of EMCOR Group by 18.9% in the first quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock valued at $50,114,000 after purchasing an additional 22,700 shares during the period. BNP Paribas Financial Markets grew its position in shares of EMCOR Group by 92.8% in the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock valued at $35,901,000 after purchasing an additional 49,346 shares during the period. Wellington Management Group LLP acquired a new stake in shares of EMCOR Group in the fourth quarter valued at about $9,565,000. Finally, BTC Capital Management Inc. acquired a new position in EMCOR Group during the first quarter worth about $701,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

EME has been the subject of several recent research reports. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. DA Davidson raised their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

EMCOR Group Price Performance

EME stock traded down $2.55 during midday trading on Tuesday, hitting $427.98. 274,199 shares of the stock traded hands, compared to its average volume of 446,751. The firm has a market cap of $20.11 billion, a P/E ratio of 28.25 and a beta of 1.07. The stock’s fifty day simple moving average is $380.19 and its 200-day simple moving average is $371.26. EMCOR Group has a 1-year low of $191.50 and a 1-year high of $443.96.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $2.95 earnings per share. On average, research analysts predict that EMCOR Group will post 19.5 earnings per share for the current year.

EMCOR Group announced that its Board of Directors has initiated a stock buyback plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is 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.