State of Michigan Retirement System Acquires 600 Shares of EMCOR Group, Inc. (NYSE:EME)

State of Michigan Retirement System grew its holdings in EMCOR Group, Inc. (NYSE:EME) by 5.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,148 shares of the construction company’s stock after purchasing an additional 600 shares during the quarter. State of Michigan Retirement System’s holdings in EMCOR Group were worth $4,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EME. Wealth Enhancement Advisory Services LLC boosted its position in EMCOR Group by 89.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock valued at $7,595,000 after buying an additional 10,269 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in EMCOR Group by 18.9% during the 1st quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock worth $50,114,000 after acquiring an additional 22,700 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of EMCOR Group by 92.8% during the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock valued at $35,901,000 after acquiring an additional 49,346 shares during the last quarter. AXS Investments LLC grew its stake in shares of EMCOR Group by 238.7% in the fourth quarter. AXS Investments LLC now owns 4,200 shares of the construction company’s stock worth $905,000 after purchasing an additional 2,960 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in EMCOR Group during the 4th quarter worth about $9,565,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EMCOR Group stock traded down $2.10 on Tuesday, reaching $375.51. 12,798 shares of the company’s stock were exchanged, compared to its average volume of 453,908. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98. The firm’s 50-day moving average is $367.71 and its two-hundred day moving average is $351.83. The company has a market capitalization of $17.65 billion, a P/E ratio of 24.88 and a beta of 1.06.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The business’s revenue was up 20.4% on a year-over-year basis. On average, analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm 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. 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 payout ratio is 6.60%.

Insider Transactions at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carol P. Lowe sold 1,245 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $374.23, for a total value of $465,916.35. Following the sale, the director now owns 16,807 shares in the company, valued at approximately $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 Analysts Forecast Growth

Separately, DA Davidson increased 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.