Bull Harbor Capital LLC Takes $1.60 Million Position in EMCOR Group, Inc. $EME

Bull Harbor Capital LLC bought a new position in EMCOR Group, Inc. (NYSE:EME) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,169 shares of the construction company’s stock, valued at approximately $1,601,000.

Several other institutional investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its holdings in EMCOR Group by 132,234.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 669,611 shares of the construction company’s stock worth $409,661,000 after purchasing an additional 669,105 shares during the period. Norges Bank purchased a new position in shares of EMCOR Group during the fourth quarter valued at approximately $389,702,000. Bank of Montreal Can lifted its holdings in shares of EMCOR Group by 425.8% during the fourth quarter. Bank of Montreal Can now owns 560,477 shares of the construction company’s stock valued at $342,894,000 after purchasing an additional 453,876 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of EMCOR Group by 34.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,276,966 shares of the construction company’s stock worth $781,239,000 after purchasing an additional 327,606 shares in the last quarter. Finally, Earnest Partners LLC bought a new stake in shares of EMCOR Group in the 4th quarter worth approximately $156,714,000. 92.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EME. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Friday, July 17th. Wall Street Zen upgraded EMCOR Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Stifel Nicolaus set a $918.00 target price on EMCOR Group in a research note on Thursday, April 30th. Oppenheimer began coverage on EMCOR Group in a report on Thursday, May 28th. They set an “outperform” rating and a $1,100.00 price target for the company. Finally, Zacks Research raised EMCOR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $871.25.

Insider Activity

In related news, Director William P. Reid sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $925.78, for a total value of $1,851,560.00. Following the transaction, the director owned 10,149 shares of the company’s stock, valued at approximately $9,395,741.22. This trade represents a 16.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carol P. Lowe sold 950 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $844.50, for a total transaction of $802,275.00. Following the sale, the director owned 17,278 shares of the company’s stock, valued at $14,591,271. This trade represents a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.73% of the stock is owned by corporate insiders.

EMCOR Group Price Performance

Shares of EME opened at $671.68 on Thursday. EMCOR Group, Inc. has a one year low of $564.92 and a one year high of $951.96. The firm has a market capitalization of $29.85 billion, a P/E ratio of 22.53 and a beta of 1.13. The business has a fifty day moving average of $803.03 and a 200 day moving average of $786.60.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $5.90 by $0.94. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.20 billion. EMCOR Group had a return on equity of 35.19% and a net margin of 7.54%.EMCOR Group’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.41 earnings per share. Analysts expect that EMCOR Group, Inc. will post 29.37 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio is presently 5.37%.

EMCOR Group Company Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.