EMCOR Group, Inc. (NYSE:EME) Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 474,817 shares of the construction company’s stock after selling 16,772 shares during the period. Bank of New York Mellon Corp owned approximately 1.01% of EMCOR Group worth $173,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EME. Norges Bank acquired a new position in shares of EMCOR Group during the 4th quarter worth $153,739,000. Burgundy Asset Management Ltd. increased its holdings in EMCOR Group by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after buying an additional 11,479 shares during the period. Allspring Global Investments Holdings LLC increased its stake 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 acquiring an additional 73,975 shares during the period. TimesSquare Capital Management LLC raised its holdings in shares of EMCOR Group by 93.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock worth $91,791,000 after buying an additional 205,793 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in EMCOR Group by 55.6% during the first quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after acquiring an additional 139,919 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other EMCOR Group news, Director Carol P. Lowe sold 1,245 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $374.23, for a total transaction of $465,916.35. Following the transaction, the director now owns 16,807 shares in the company, valued at $6,289,683.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Carol P. Lowe sold 1,245 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the completion of the sale, the director now directly owns 16,807 shares of the company’s stock, valued at approximately $6,289,683.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was 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 of the company’s stock, valued at approximately $3,202,513.23. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Stock Performance

NYSE EME traded down $4.69 during trading on Monday, hitting $377.61. The stock had a trading volume of 212,314 shares, compared to its average volume of 456,597. The company’s 50-day moving average price is $367.83 and its two-hundred day moving average price is $350.88. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $401.98. The company has a market capitalization of $17.75 billion, a PE ratio of 25.22 and a beta of 1.06.

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, beating analysts’ consensus estimates of $3.76 by $1.49. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. During the same quarter in the prior year, the business earned $2.95 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s payout ratio is currently 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.