Mediolanum International Funds Ltd Purchases New Shares in EMCOR Group, Inc. (NYSE:EME)

Mediolanum International Funds Ltd acquired a new position in EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 5,463 shares of the construction company’s stock, valued at approximately $2,329,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of EMCOR Group by 89.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock valued at $7,595,000 after buying an additional 10,269 shares during the period. Kathmere Capital Management LLC acquired a new stake in shares of EMCOR Group during the 1st quarter worth $241,000. Independence Bank of Kentucky bought a new position in shares of EMCOR Group in the first quarter worth $33,000. Diversified Trust Co raised its stake in EMCOR Group by 27.2% in the first quarter. Diversified Trust Co now owns 6,283 shares of the construction company’s stock valued at $2,200,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Oliver Luxxe Assets LLC lifted its position in EMCOR Group by 1.5% during the first quarter. Oliver Luxxe Assets LLC now owns 4,710 shares of the construction company’s stock worth $1,649,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Stock Down 3.9 %

Shares of NYSE:EME opened at $428.58 on Friday. EMCOR Group, Inc. has a twelve month low of $201.96 and a twelve month high of $456.16. The firm has a market capitalization of $20.00 billion, a price-to-earnings ratio of 24.55 and a beta of 1.07. The stock’s 50 day moving average is $411.96 and its 200-day moving average is $383.61.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) 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 firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the company earned $2.95 EPS. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is 5.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EME shares. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. DA Davidson raised 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.

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.