Gateway Investment Advisers LLC Acquires Shares of 928 EMCOR Group, Inc. (NYSE:EME)

Gateway Investment Advisers LLC bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 928 shares of the construction company’s stock, valued at approximately $339,000.

A number of other hedge funds have also modified their holdings of EME. Matrix Trust Co purchased a new position in shares of EMCOR Group during the 2nd quarter worth $26,000. V Square Quantitative Management LLC purchased a new stake in shares of EMCOR Group in the 1st quarter valued at approximately $28,000. Independence Bank of Kentucky acquired a new position in EMCOR Group in the first quarter valued at approximately $33,000. Rise Advisors LLC acquired a new stake in EMCOR Group during the first quarter worth $40,000. Finally, Northwest Investment Counselors LLC purchased a new stake in EMCOR Group in the first quarter valued at $40,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

EMCOR Group Price Performance

Shares of EME stock traded down $1.25 during trading on Friday, reaching $355.77. The company’s stock had a trading volume of 259,177 shares, compared to its average volume of 471,323. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $401.98. The company has a market capitalization of $16.72 billion, a price-to-earnings ratio of 23.47 and a beta of 1.06. The stock’s 50-day moving average price is $369.58 and its 200 day moving average price is $340.31.

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. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. 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, sell-side analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal 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 0.28%. EMCOR Group’s dividend payout ratio is presently 6.60%.

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.