Spectrum Wealth Counsel LLC Boosts Stake in EMCOR Group, Inc. (NYSE:EME)

Spectrum Wealth Counsel LLC boosted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,352 shares of the construction company’s stock after acquiring an additional 106 shares during the period. Spectrum Wealth Counsel LLC’s holdings in EMCOR Group were worth $1,589,000 at the end of the most recent reporting period.

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

EMCOR Group Price Performance

NYSE:EME opened at $396.42 on Friday. The company’s 50-day moving average is $368.41 and its two-hundred day moving average is $362.91. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $401.98. The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 26.15 and a beta of 1.07.

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. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 earnings per share. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Friday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

Insider Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

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

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.