Gateway Wealth Partners LLC Takes $859,000 Position in EMCOR Group, Inc. $EME

Gateway Wealth Partners LLC bought a new position in EMCOR Group, Inc. (NYSE:EME) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,164 shares of the construction company’s stock, valued at approximately $859,000.

Several other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of EMCOR Group by 3.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 356 shares of the construction company’s stock valued at $270,000 after acquiring an additional 13 shares during the period. PAX Financial Group LLC boosted its holdings in shares of EMCOR Group by 3.6% during the fourth quarter. PAX Financial Group LLC now owns 404 shares of the construction company’s stock worth $247,000 after purchasing an additional 14 shares during the period. Austin Private Wealth LLC grew its stake in shares of EMCOR Group by 3.6% in the fourth quarter. Austin Private Wealth LLC now owns 437 shares of the construction company’s stock worth $267,000 after purchasing an additional 15 shares during the last quarter. First National Bank of Hutchinson grew its stake in shares of EMCOR Group by 0.9% in the fourth quarter. First National Bank of Hutchinson now owns 1,614 shares of the construction company’s stock worth $987,000 after purchasing an additional 15 shares during the last quarter. Finally, Advisors Capital Management LLC increased its holdings in EMCOR Group by 3.4% during the 4th quarter. Advisors Capital Management LLC now owns 450 shares of the construction company’s stock valued at $275,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, Director William P. Reid sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 10,149 shares of the company’s stock, valued at $9,395,741.22. This represents a 16.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carol P. Lowe sold 950 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $844.50, for a total transaction of $802,275.00. Following the completion of the transaction, the director owned 17,278 shares of the company’s stock, valued at approximately $14,591,271. The trade was 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on EME. Oppenheimer started coverage on EMCOR Group in a report on Thursday, May 28th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Zacks Research upgraded EMCOR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Stifel Nicolaus set a $918.00 price target on EMCOR Group in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $1,123.00 price objective on shares of EMCOR Group in a research report on Tuesday, June 16th. One equities research 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $871.25.

EMCOR Group Stock Performance

EMCOR Group stock opened at $671.68 on Thursday. EMCOR Group, Inc. has a fifty-two week low of $564.92 and a fifty-two week high of $951.96. The stock’s 50 day simple moving average is $803.03 and its two-hundred day simple moving average is $786.60. The stock has a market cap of $29.85 billion, a price-to-earnings ratio of 22.53 and a beta of 1.13.

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

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. EMCOR Group’s dividend payout ratio is 5.37%.

EMCOR Group 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.