11,739 Shares in EMCOR Group, Inc. (NYSE:EME) Purchased by DNB Asset Management AS

DNB Asset Management AS purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,739 shares of the construction company’s stock, valued at approximately $4,286,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of EMCOR Group during the 4th quarter valued at approximately $153,739,000. Burgundy Asset Management Ltd. raised its position in EMCOR Group by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after purchasing an additional 11,479 shares during the period. Allspring Global Investments Holdings LLC raised its position in 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 valued at $152,170,000 after purchasing an additional 73,975 shares during the period. TimesSquare Capital Management LLC raised its position in EMCOR Group by 93.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock valued at $91,791,000 after purchasing an additional 205,793 shares during the period. Finally, Acadian Asset Management LLC raised its position in EMCOR Group by 55.6% in the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after purchasing an additional 139,919 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, the director now owns 8,637 shares in the company, valued at $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 stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $374.23, for a total transaction of $465,916.35. Following the completion of the transaction, the director now directly owns 16,807 shares of the company’s stock, valued at $6,289,683.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the transaction, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

EMCOR Group Trading Up 2.8 %

Shares of EME stock opened at $349.87 on Wednesday. The firm has a fifty day moving average price of $371.94 and a 200 day moving average price of $338.37. The company has a market cap of $16.44 billion, a P/E ratio of 23.08 and a beta of 1.06. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $401.98.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.29%. EMCOR Group’s dividend payout ratio is presently 6.60%.

EMCOR Group Company Profile

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.