Bayesian Capital Management LP Acquires 415 Shares of EMCOR Group, Inc. (NYSE:EME)

Bayesian Capital Management LP raised its holdings in EMCOR Group, Inc. (NYSE:EME) by 18.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,668 shares of the construction company’s stock after buying an additional 415 shares during the period. Bayesian Capital Management LP’s holdings in EMCOR Group were worth $934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of EMCOR Group during the fourth quarter valued at about $153,739,000. Burgundy Asset Management Ltd. grew its stake 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 purchasing an additional 11,479 shares during the period. Allspring Global Investments Holdings LLC grew its stake in EMCOR Group by 20.5% in the 1st 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 increased its position in shares of EMCOR Group by 93.4% during the 4th 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 last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $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.

EMCOR Group Price Performance

Shares of EME traded up $13.53 during mid-day trading on Wednesday, hitting $372.00. The stock had a trading volume of 23,084 shares, compared to its average volume of 469,367. The business has a fifty day moving average price of $375.70 and a 200-day moving average price of $333.58. The firm has a market cap of $17.36 billion, a P/E ratio of 23.65 and a beta of 1.06. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating 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 company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the business earned $2.95 earnings per share. EMCOR Group’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared 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 of this dividend was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. EMCOR Group’s dividend payout ratio is presently 6.60%.

Insider Transactions at EMCOR Group

In other news, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the transaction, the director now directly owns 16,807 shares in the company, valued at approximately $6,289,683.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robin A. Walker-Lee sold 1,300 shares of the 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 completion of the sale, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carol P. Lowe sold 1,245 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $374.23, for a total value of $465,916.35. Following the transaction, the director now directly owns 16,807 shares in the company, valued at $6,289,683.61. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

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

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.