Empowered Funds LLC Acquires 2,207 Shares of EMCOR Group, Inc. $EME

Empowered Funds LLC boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 7.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 31,937 shares of the construction company’s stock after acquiring an additional 2,207 shares during the period. Empowered Funds LLC’s holdings in EMCOR Group were worth $23,579,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of EME. Swiss RE Ltd. purchased a new stake in shares of EMCOR Group during the 4th quarter valued at about $25,000. Ascentis Independent Advisors bought a new stake in shares of EMCOR Group in the first quarter worth approximately $27,000. Zions Bancorporation National Association UT purchased a new position in shares of EMCOR Group during the fourth quarter valued at approximately $28,000. Activest Wealth Management raised its holdings in shares of EMCOR Group by 800.0% during the fourth quarter. Activest Wealth Management now owns 54 shares of the construction company’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in EMCOR Group by 71.9% during the fourth quarter. Richardson Financial Services Inc. now owns 55 shares of the construction company’s stock valued at $34,000 after purchasing an additional 23 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE EME opened at $707.26 on Wednesday. The business’s 50 day moving average is $806.66 and its two-hundred day moving average is $786.30. EMCOR Group, Inc. has a 1-year low of $564.92 and a 1-year high of $951.96. The stock has a market capitalization of $31.43 billion, a P/E ratio of 23.73 and a beta of 1.13.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.90 by $0.94. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.20 billion. EMCOR Group had a return on equity of 35.19% and a net margin of 7.54%.The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.41 earnings per share. As a group, equities research analysts anticipate that EMCOR Group, Inc. will post 29.37 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a $0.40 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is currently 5.37%.

Insider Activity at EMCOR Group

In other news, Director William P. Reid sold 2,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $925.78, for a total value of $1,851,560.00. Following the sale, the director owned 10,149 shares of the company’s stock, valued at approximately $9,395,741.22. This represents a 16.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jason R. Nalbandian sold 800 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $856.43, for a total transaction of $685,144.00. Following the completion of the sale, the chief financial officer owned 18,157 shares of the company’s stock, valued at $15,550,199.51. This trade represents a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,027 shares of company stock valued at $8,957,466 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EME shares. Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,123.00 target price on shares of EMCOR Group in a research note on Tuesday, June 16th. Zacks Research raised EMCOR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Oppenheimer began coverage on EMCOR Group in a research note on Thursday, May 28th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $871.25.

EMCOR Group Company Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.