Wedge Capital Management L L P NC Sells 7,782 Shares of EMCOR Group, Inc. (NYSE:EME)

Wedge Capital Management L L P NC trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 14.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,175 shares of the construction company’s stock after selling 7,782 shares during the quarter. Wedge Capital Management L L P NC owned 0.10% of EMCOR Group worth $17,223,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Matrix Trust Co acquired a new position in shares of EMCOR Group during the 2nd quarter worth $26,000. V Square Quantitative Management LLC acquired a new position in EMCOR Group during the first quarter worth about $28,000. ORG Partners LLC bought a new position in shares of EMCOR Group in the second quarter worth about $31,000. Independence Bank of Kentucky acquired a new stake in shares of EMCOR Group in the 1st quarter valued at approximately $33,000. Finally, Rise Advisors LLC bought a new stake in shares of EMCOR Group during the 1st quarter valued at approximately $40,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 1.9 %

EMCOR Group stock traded up $6.83 during trading hours on Thursday, hitting $372.18. The stock had a trading volume of 188,163 shares, compared to its average volume of 465,602. The business’s 50 day simple moving average is $368.83 and its 200-day simple moving average is $343.23. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $401.98. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 24.55 and a beta of 1.06.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The business had revenue of $3.67 billion for 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%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. Research analysts anticipate 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. Shareholders of record on Monday, July 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Monday, July 15th. EMCOR Group’s payout ratio is presently 6.60%.

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other EMCOR Group news, Director Carol P. Lowe sold 1,245 shares of EMCOR Group stock in a transaction that occurred 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 sale, the director now directly owns 16,807 shares in the company, valued at $6,289,683.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robin A. Walker-Lee sold 1,300 shares of the company’s 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 transaction, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson raised their target price 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.

EMCOR Group 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.