Portside Wealth Group LLC Trims Position in EMCOR Group, Inc. (NYSE:EME)

Portside Wealth Group LLC cut its holdings in EMCOR Group, Inc. (NYSE:EME) by 21.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,334 shares of the construction company’s stock after selling 365 shares during the quarter. Portside Wealth Group LLC’s holdings in EMCOR Group were worth $487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Matrix Trust Co acquired a new position in shares of EMCOR Group during the second quarter worth $26,000. V Square Quantitative Management LLC purchased a new stake in shares of EMCOR Group during the first quarter worth about $28,000. ORG Partners LLC purchased a new stake in shares of EMCOR Group during the second quarter worth about $31,000. Independence Bank of Kentucky acquired a new position in shares of EMCOR Group during the first quarter valued at about $33,000. Finally, Rise Advisors LLC acquired a new stake in EMCOR Group in the 1st quarter worth approximately $40,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

EMCOR Group Stock Down 1.5 %

Shares of EMCOR Group stock traded down $5.60 during mid-day trading on Friday, reaching $366.59. 220,433 shares of the stock traded hands, compared to its average volume of 464,050. The stock has a market capitalization of $17.23 billion, a PE ratio of 24.18 and a beta of 1.06. The business has a 50-day moving average of $368.60 and a 200 day moving average of $344.42. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $401.98.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share 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 for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the previous year, the business posted $2.95 earnings per share. EMCOR Group’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Insider Buying and Selling

In other news, Director Carol P. Lowe sold 1,245 shares of the company’s 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 owns 16,807 shares in the company, valued at $6,289,683.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction 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 transaction, the director now owns 16,807 shares of the company’s stock, valued at $6,289,683.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group 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 sale, 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. Company insiders own 1.26% of the company’s stock.

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.