Paralel Advisors LLC Sells 5,244 Shares of EMCOR Group, Inc. (NYSE:EME)

Paralel Advisors LLC trimmed its holdings in EMCOR Group, Inc. (NYSE:EME) by 44.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,519 shares of the construction company’s stock after selling 5,244 shares during the quarter. Paralel Advisors LLC’s holdings in EMCOR Group were worth $2,380,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Matrix Trust Co bought a new stake in shares of EMCOR Group in the second quarter worth approximately $26,000. Proffitt & Goodson Inc. purchased a new stake in EMCOR Group during the 2nd quarter valued at $27,000. Innealta Capital LLC purchased a new stake in EMCOR Group during the 2nd quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in shares of EMCOR Group during the 1st quarter valued at $28,000. Finally, ORG Partners LLC purchased a new position in shares of EMCOR Group in the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson upped their price objective on 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 Trading Down 0.2 %

NYSE EME traded down $0.59 during trading hours on Friday, hitting $352.88. 384,845 shares of the company’s stock traded hands, compared to its average volume of 452,772. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98. The firm has a market capitalization of $16.58 billion, a P/E ratio of 23.28 and a beta of 1.07. The business’s fifty day moving average price is $366.75 and its two-hundred day moving average price is $358.16.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. EMCOR Group’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 earnings per share. On average, sell-side 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. Investors of record on Monday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s dividend payout ratio is currently 6.60%.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the 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 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 is available at this link. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Company 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.