SkyView Investment Advisors LLC Has $2.73 Million Stake in EMCOR Group, Inc. (NYSE:EME)

SkyView Investment Advisors LLC reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,465 shares of the construction company’s stock after selling 958 shares during the period. SkyView Investment Advisors LLC’s holdings in EMCOR Group were worth $2,725,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC boosted its position in EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after acquiring an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in EMCOR Group by 155.5% during the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after acquiring an additional 126,148 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in EMCOR Group during the fourth quarter valued at approximately $25,938,000. Renaissance Technologies LLC grew its stake in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after purchasing an additional 116,300 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in EMCOR Group by 971.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after purchasing an additional 91,837 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Down 0.5 %

NYSE:EME opened at $427.09 on Friday. EMCOR Group, Inc. has a 12-month low of $191.50 and a 12-month high of $443.96. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 28.17 and a beta of 1.07. The stock’s 50 day moving average price is $379.09 and its two-hundred day moving average price is $369.88.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The business 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 business earned $2.95 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were issued a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

EMCOR Group announced that its board has initiated a share buyback plan on Friday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EME shares. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. DA Davidson increased their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Insiders Place Their Bets

In other 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 stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the transaction, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.26% of the company’s stock.

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.